Monday, 3 June, 2002, 10:10 GMT 11:10 UK
Indonesian planner slams IMF
Indonesia money changer
The economy is picking up steam
Indonesia should sever its links with the International Monetary Fund (IMF) unless the lending agency stops demanding policies that "endanger" the nation, planning minister Kwik Kian Gie has said.

They no longer know anything and are seeking things which may endanger Indonesia

Kwik Kian Gie
The IMF has granted Indonesia loans worth $5bn (£3.5bn)under an agreement that runs until November.

"Their contract will soon expire," Mr Kwik told reporters.

"If they can discuss things in a nice way, that will be fine but if they do not want to do so, there should be no effort to extend" the IMF's contract in the country.

Mr Kwik, who is National Development Planning Minister and was chief economics minister in the previous government, accused the IMF of damaging and ignorant policies.

'That will kill us'

"They no longer know anything and are seeking things which may endanger Indonesia," he said at a news conference.

In particular, he objected to a requirement for Indonesia to repay bonds issued to recapitalise the country's banking system, saying: "That will kill us."

Relations between Indonesia and the IMF have been strained in the past and broke down under the previous government of Abdurrahman Wahid.

Bank privatisations

The IMF agreed to restore loans to Indonesia after Megawati Sukarnoputri was installed as the country's president in July 2001 and promised a change from the policies of her predecessor.

The two sides agreed on a list of targets to boost growth and curb inflation.

Indonesia also pledged to press ahead with bank privatisations as part of a sell-off of state assets to attract international investors and streamline bankrupt companies.

Indonesian officials said on Monday the sale of a 15% stake in Bank Mandiri would take place six months later than planned, at the end of 2002.

A meeting of the state financial comittee to discuss the sale of its controlling stake in Bank Niaga was also postponed, for the second time, on Monday "until all the ministers can attend it," Mr Kwik said.

Signs of progress

Indonesia's economy has gained pace in recent months.

The latest figures showed the trade surplus rose in April to $2.34bn due to a big jump in exports.

Imports were also up, suggesting an overall rise in economic activity.

Indonesia's economy got a much needed shot in the arm in April when it was upgraded by the credit rating agency Moody's Investors Service.

Moody's raised its outlook from 'stable' to 'positive' after Indonesia sucessfully rescheduled $5.4bn of debts

link : http://news.bbc.co.uk/2/hi/business/2022893.stm

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pada waktu megawati kita masih harus bayar imf dan harus nurut ma mereka gan, jadi logika agan aja yang dipake gimana keadaan ekonomi kita waktu itu
yang pinter nerjemahin bisa di terjemahin tuh .....