A Misplaced Request

PRESIDENT Megawati's criticism of the International Monetary Fund last week certainly made sense. The president, who was delivering the 2005 National Budget to the House of Representatives (DPR), was quoting the Independent Evaluation Office—an independent IMF watchdog—as it criticized the IMF's formula for Indonesia. Megawati asked the IMF to take the initiative in rescheduling Indonesia's foreign debt repayments.

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