Smelling an IBRA Rat

The Indonesian Bank Restructuring Agency (IBRA) squanders huge funds to pay foreign consultants hired without a tender. Ironically, much of their work is useless.

May 1, 2001

There are astonishing rumors about consultants' services manipulated by IBRA. Touch upon this before money mart and capital market players and they will chuckle cynically or knit their brows. "You can only smell a rat. You feel it but cannot prove it," one security analyst said.

To prove any scandal, complete data and information is needed, of course. If you have the ability to read between the lines, however, you'll find hand-in-glove and collusiv

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