Indonesia Responds to IMF's Call to Lift Nickel Export Ban

TEMPO.CO, Jakarta - Minister of Trade Zulkifli Hasan responded to IMF’s recommendation for Indonesia to lift the export ban on raw minerals, including nickel. According to the minister, the export ban is crucial to Indonesia’s resource-based industrial plan.

“IMF and developed countries lament the decision. We are trying to advance the state, why are they the ones lamenting,” said Zulkifli in his office in Central Jakarta on Thursday, July 6, 2023.

However, Zulkifli refrained from explaining the government’s move to respond IMF’s recommendation, whether they will eventually phase out the export ban. IMF also recommended Indonesia stop expanding the ban to other commodities.

IMF welcomed Indonesia’s ambition to increase its export values, inviting foreign direct investment, and facilitating the transfer of knowledge and technology. However, IMF assessed that Indonesia should also consider its policies’ impact on other regions.

Meanwhile, Zulkilfi argued that the export ban on nickel is an appropriate policy by President Jokowi since it will greatly benefit Indonesians. “We multiply the benefit by thousands, it used to be US$1 and now it is US$1,000. Just look at Freeport, it’s been stagnant since the independence,” Zulkifli remarked.

RIANI SANUSI PUTRI / NAJLA (Translator)