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A Big Decision Without Authority

Tuesday, August 7, 2001

Former Minister of Finance Rizal Ramli has signed an agreement to pay OPIC's claim worth US$260 million. Since Rizal has resigned and the agreement is not supported by the DPR, the legitimacy is questionable.

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Rizal's term as Minister of Finance may have been short, only 40 days. However, within such a short time, Rizal managed to make a controversial decision. On Tuesday, July 31, with the US Ambassador to Indonesia, Robert Gelbard, Rizal signed an agreement to settle a claim by the Overseas Private Investment Corporation (OPIC) worth US$260 million or approximately Rp2.5 trillion. At the time the Cabinet had been stripped of power and no longer had

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