IMF to Disburse loan at the end of August

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Senin, 8 Desember 2003 09:50 WIB

TEMPO Interactive, Jakarta:Anoop Singh, IMF Deputy Director for the Asia Pacific region said that the International Monetary Fund (IMF) will disburse the US$ 400 million loan at the end of August, House of Representatives (DPR) Speaker Akbar Tandjung announced that the legislature complex today (11/7). According to Akbar, the IMF disbursement is not related to the special session of the People’s Consultative Assembly (MPR) that will be started on August 1. “[The IMF] has promised for to disburse the loan at the end of August,” Akbar told the press after meeting with the IMF review team.

The House Speaker then added that the IMF loan is needed to develop the economy. Akbar said there was nothing new added to the Letter of Intent between the IMF and the Indonesian government. “But Anop said that [the material] was revised,” Akbar said.

During the meeting, it was reported that the IMF supported the postponement of Bank Indonesia draft law revision. In addition, the IMF proposed some programs proposed to improve political stability, and accelerate the privatization of government owned companies and the IBRA assets sale. “The IMF also suggested developing a good banking system,” Akbar said firmly.

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