'We must not blindly attack IMF anymore'

The Jakarta Post, Jakarta

Coordinating Minister for Economic Affairs Dorodjatun Kuntjoro Djakti called on Monday for people not to blindly criticize and attack the International Monetary Fund (IMF), World Bank and Asian Development Bank (ADB) since it would jeopardize Indonesia's position in dealing with its debt problems.

Speaking during a session with the House of Representatives on Monday, Dorodjatun reiterated the fact that "Indonesia is facing tough problems of foreign debts and that we must make the best of the opportunity that we have, and therefore we must not blindly attack the IMF, World Bank or ADB."

Dorodjatun urged all sectors in the country to respect multilateral institutions such as the IMF or World Bank since such bodies represented the political systems of hundreds of established countries.

"If the donor countries think that Indonesia treats them like this ... of course it will place Indonesia in a difficult position," Dorodjatun said.

Also attended the hearing with House's Commission V for industry and trade were Minister of Industry and Trade Rini M Soewandi and Finance Minister Boediono.

Chairman of the National Development Planning Board (Bappenas) and former economic minister Kwik Kian Gie had previously expressed concern about the way the IMF handled Indonesia's foreign debts and asked the government to review its cooperation with IMF saying it is no longer suitable for the country.

The IMF has been widely criticized and described by prominent Indonesian non-governmental organizations as a giant loan shark which also has played a big part in determining the course of Indonesian economic and political conditions.