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Article: IMF, Indonesia Agree On Revised Reform Plan; Program to Aid Poor, Strengthen Banks
- Article from:
- The Washington Post
- Article date:
- June 26, 1998
- Author:
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Indonesia and the International Monetary Fund announced
agreement yesterday on a revised economic reform plan to provide
more assistance to the nation's poor and speed recovery of its
weakened banks.
But officials said the new program would require at least $4
billion to $6 billion in additional loans beyond the $43 billion set
aside for stabilizing the economy under a program worked out in
April by the IMF and Indonesia.
Representatives from the two sides said the April 10 agreement
had to be rewritten because months of rioting and social unrest had
damaged the nation's infrastructure and plunged the economy into a
much deeper recession than previously expected.
The outlook for ...