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Article: Is this third time lucky? (IMF-Indonesia agreement)(includes related article on IMF conditions for Indonesia)
- Article from:
- The Banker
- Article date:
- May 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The IMF and Indonesia have come to terms for a third time on reform requirements for the $43 billion rescue package, writes Alison Warner. Observers say the latest agreement is better because it addresses the foreign currency corporate debt problem
It has been a spectacle of brinkmanship on an unprecedented scale. With the rupiah plunging to record lows this year, soaring food prices and riots among Indonesia's population of almost 200 million, President Suharto's government and the IMF have wrestled over the implementation of measures under the $43 billion IMF-led rescue package of last November. After two earlier agreements fell apart, the two sides unveiled a ...