Hamzah Haz Asks the IMF to Support Indonesia’s Program at the Paris Club Meeting

TEMPO Interactive, Jakarta:Indonesia has asked the International Monetary Fund (IMF) to support Indonesia’s program at the Paris Club, according to Vice President Hamzah Haz. “This is so that we can fulfill the IMF’s programs,” said the Vice President after opening the Second Asia Pacific Seminar at the Hilton Hotel on Monday afternoon (8/4). If the debts can be rescheduled during the Paris Club meeting, Hamzah went on to say, it is expected the government will be to manage the budget well. If the debts cannot be rescheduled, then all the all assets managed by the Indonesian Bank Restructuring Agency (IBRA) will be used to pay the debts,” said Hamzah. The Vice President went on to say that the debts, which currently amount to US$65 billion, are a real burden for Indonesia. However this had been caused by external factors, he explained, rather than by Indonesia itself. “So, we are asking debtors to reschedule the debts,” said Hamzah, who is also chairman of United Development Party (PPP). Hamzah said it was hoped the debts could be rescheduled for more than 20 years, or at the very least 10 years. This would therefore give Indonesia sufficient time to accelerate its real sector, the Vice President continued. “We hope [the Paris Club meeting] will agree so that Indonesia’s burden can be lightened, and the national economy will experience better growth than was achieved in 2001,” said Hamzah. (Kurniawan--TEMPO News Room)