Toward the end of Indonesian-IMF ties

Toward the end of Indonesian-IMF ties

The Indonesian people have been eagerly awaiting whether or not the government would end its ties with the Washington-based International Monetary Fund (IMF). Some quarters have said that if the government extends its cooperation with the Fund, Jakarta would likely be trapped again in the foreign money lender's interests.

However, if Indonesia ends its ties with the IMF, is Jakarta ready to anticipate another economic crisis without the IMF's help?

National Development Planning Board chairman, Kwik Kian Gie, expressed his confidence that Indonesia is ready to face the consequences to pay all its debts if it ends its ties with the IMF. Kwik said Indonesia can pay its debts of US$ 9 billion as the country has foreign exchange reserves of up to US$ 34 billion.

President Megawati Soekarnoputri said the country should maintain its political stability and security if it wants to be free from the unfavorable IMF program. -- Bisnis Indonesia, Jakarta