Year Full of Unprecedented Suffering
Several points in the latest letter of intent are certainly required to make the Indonesian economy more healthy. However, those concerning the maintenance of a tight money policy and the increase in taxes need to be questioned.
November 27, 2001
IT seems as if next year will be a year of suffering for the people of Indonesia. The problem is that despite four years of wallowing in the crisis, the government will next year be continuing its super-tight economic policies. And these will be even tighter than this year. This is the hallmark of the latest letter of intent (LoI) between Indonesia and the International Monetary Fund (IMF). Last week discussions on the draft LoI were complete
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