BKPM Head Lament IMF's Double Standard on Nickel Export Ban
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30 June 2023 21:29 WIB
TEMPO.CO, Jakarta - Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia responded to the recommendation issued by the International Monetary Fund (IMF) which asked Indonesia to gradually revoke the export ban on raw mineral commodities such as nickel.
Bahlil, in a defensive tone, stated that “The IMF has a double standard,” he said in a press conference on Friday, June 30, 2023.
According to his point of view, the IMF is pushing for structural transformation and the creation of added-value products and new job opportunities. However, he lamented the IMF’s contempt towards Indonesia’s raw material export ban based on the institution’s cost-benefit analysis.
“The IMF accedes that our economic growth is above 5 percent. IMF acknowledges our inflation is below 5 percent and [that we posted] one of the best economic growths and inflation among G20 countries,” said Bahlil.
Bahlil then implied that the IMF gave conflicting messages by acknowledging Indonesia’s constant direct foreign investment growth (19 percent in 2023) and other positive assessments of Indonesia’s economy but is emitting signs of defiance against Indonesia’s export ban.
“What is this? There seems to be fear from them when Indonesia is currently in a condition where the trend is quite good and the path is clear,” Bahlil Lahadalia asserted.
In an attempt to clarify his argument regarding double standards, Bahlil compared the situation to Europe and other international communities that are building a consensus on sustainable development.
“In my view, there is a double standard that is being established. Amidst a situation where countries are banning semiconductor exports such as the United States. Why are we being disrupted?” Bahlil questioned.
As previously reported, the IMF Executive Board Concludes 2023 Article IV Consultation with Indonesia document gave a note on Indonesia’s nickel industrial downstream plan, which called for Indonesia to consider the policy’s effect on other countries.
AMELIA RAHIMA SARI | ANTARA
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