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Is the IMF to blame?

Tuesday, April 8, 2003

The protracted crisis is not entirely the fault of the IMF. The following is an abstract on Dr. Muhammad Chatib Basri's commentary.

arsip tempo : 173227698011.

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The strongest criticisms against the IMF have to do with its "orders" to maintaining higher interest rates and tightening liquidity. These policies have forced credit to stall, businesses to go into bankruptcy and the foreign exchange value of the rupiah to decline. But, should the IMF be solely blamed for this tragic state of the national economy? Could it be that we ourselves are at fault for failing to fully complete the reformasi process?

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