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President Wahid Wants The LoI Negotiations to be Settled Within A Week

Translator

Editor

18 December 2003 15:00 WIB

TEMPO Interactive, Jakarta:President Abdurrahman Wahid has requested that the Indonesia-International Monetary Fund (IMF)’s Letter of Intent (LoI) be settled within a week. Coordinating Minister for the Economy Burhanuddin Abdullah made this statement to the press following his meeting with President Abdurrahman Wahid and IMF’s technical team at the State Palace in Jakarta this morning (06/07). According to Burhanuddin, the IMF team is scheduled to stay in Indonesia for around nine days.

The IMF’s deputy-director for the Asia Pacific Anoop Singh, the IMF’s Representative in Indonesia John Dodsworth, Dipo Alam, representing the Coordinating Minister for the Economy, were also present at the meeting.

Burhanuddin said that the meeting went well and the Indonesian government is certain that the negotiations can be settled within a week. Burhanuddin added that the president told him to continue with efforts to stabilize the monetary and fiscal sectors.

Dipo Alam, who is heading the Indonesian government negotiation team, was optimistic that this could be achieved. Dipo suggested that IMF Deputy Managing Director Stanley Fischer told the president that the IMF considers Indonesia its top priority. Dipo added that because of this, Indonesia would gain immediate aid for its economic recovery program.

In the meeting, President Wahid said that the IMF’s loan to Indonesia, which amounts to US$ 400 million, is not the most important thing. What is more important is how the loan will be distributed and that this is what convinces donor countries, such as those joined in Paris Club, to assist Indonesia.

Dipo also assured the press that no talk took place regarding the amendment of BI Laws article 75 regarding the replacement of Bank Indonesia (BI)’s board of directors.



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