The IMF Holds the Key
Tuesday, January 21, 2003
Indonesia still needs to borrow from the CGI and reschedule its debts with the Paris Club. For these reasons, the contract with the IMF will reportedly be extended to 2004.
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It is now commonly understood that if the Indonesian Government wants to borrow money, it will also have to think about how to pay it back. The pattern of recklessly taking out loans, common during the New Order, should be a thing of the past. Spending more than what is earned is no longer viable. Economists, among them Kwik Kian Gie, warn us to cut the habit of getting into debt.
But the Indonesian delegation, tasked with making a success of t
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