Speedy treatment needed

Speedy treatment needed

As far as we are able to conclude from the statements made by
the special foreign envoys who have met recently with President
Soeharto, there is nothing wrong in relations between Indonesia
and the International Monetary Fund (IMF). Still, the frequency
of the visits by the envoys to discuss the question of compliance
leads us to surmise that something has indeed gone wrong.

Sound reasoning tells us it is always possible for problems to
emerge, for whatever reason. The IMF prescription (to deal with
the monetary and economic crisis) appears to be effective in the
long term, while Indonesia is hoping to find an immediate cure to
stabilize the value of the rupiah at a reasonable level against
the dollar.

This is, apparently, where the problem lies. Because it does
not want to see its people suffer for too long, Indonesia was
tempted when experts came offering a currency board system as an
effective antidote.

In the Indonesian perception, a currency board system is not
in conflict with the IMF's terms since both are designed to heal
the patient. This notion, however, seems to be precisely where
the problem lies. Dr. IMF appears to be offended if the patient
chooses a different cure.

We hope the patient and doctor in this case will come to a
speedy agreement regarding the prescription. The Indonesian
people need treatment that is explicit, distinct and swift.

-- Media Indonesia, Jakarta