The Government Hopes For Long-Term Rescheduling on Debt Repayments
4 August 2003 14:32 WIB
TEMPO Interactive, Jakarta:The Indonesian government is hoping for long-term debt repayment rescheduling from multilateral institutions such as the Asian Development Bank (ADB), the World Bank (WB) and the International Monetary Fund (IMF), according to the Indonesian Vice President Hamzah Haz. The Vice President made this statement to reporters before joining a cabinet meeting at the State Palace in Jakarta on Thursday morning (11/4). Half of Indonesia’s foreign debts, which amount to US$ 65billion, have been obtained from the ADB, the WB and the IMF. The Vice President made his statement in response to calls from development and economic experts--including former French Prime Minister Michel Rocard—for Paris club creditors to annul Indonesia’s foreign debts in substantial amounts in order to help Indonesia out of its economic crisis. “We hope creditor countries will give us dispensation in debt repayment, such as through soft loan refinancing,” Hamzah said. (Zacharias Wuragil--TEMPO News Room)
