|
|
Article: IMF, Indonesia Agree on Bailout Revision; New Strictures on Suharto Government Allow Resumption of $43 Billion Loan
- Article from:
- The Washington Post
- Article date:
- April 8, 1998
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
|
The International Monetary Fund reached an agreement yesterday
with Indonesia that allows the country's $43 billion international
bailout to resume. But the IMF, wary of Indonesia's propensity to
backslide on economic reforms, has added provisions intended to keep
the government of President Suharto on a short leash.
The new accord, which Indonesian officials made public at a
news conference in Jakarta early today, requires the government to
take concrete actions before IMF funds are disbursed. That is
because, in the view of U.S. and IMF officials, Suharto has broken
pledges he made under two previous agreements to dismantle
monopolies and cartels run by his relatives and cronies.
...