Jakarta's Slower-Than-Expected Growth Rate Stirs Worry

Article Abstract:

Indonesian government officials are concerned that Jakarta's unanticipated slower growth rate in the first quarter 2000 could damage the nation's economic recovery and lead to social unrest.

Forecasts, trends, outlooks, National Government Finance, Statistical Data Included, Brief Article, Public finance, Illustration, Jakarta, Indonesia

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Jakarta, IMF alter accord

Article Abstract:

The International Monetary Fund (IMF) has revised its agreement with Indonesia to resume the loan of $43 billion in assistance. The deal will give Jakarta, Indonesia, a budget deficit of 8.5% of gross domestic product for the year ending Mar. 31, 1998. IMF Director of Asian and Pacific affairs Hubert Neiss said the deficit will be financed wholly by foreign loans that would require at least $4 billion from outside sources. Neiss said the funds are urgently needed to prevent a economic emergency in the country. The deficit is Indonesia's largest in 30 years.

Comment:

The International Monetary Fund has revised its agreement with Indonesia to resume the loan of $43 billion in assistance

Government revenues, Government Liabilities & Debt, National debt, Article

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Bank scandals hurt rupiah, threaten economy's upturn; investors are concerned politics is throwing a wrench into the sector's restructuring process

Article Abstract:

Indonesia's currency has plummeted in Aug 1999, which is blamed on the increasing scandals that the banking sector is experiencing. The biggest and third-largest private banks in the country have become entangled in a financial controversy that has triggered the concern of investors regarding the government's bank-restructuring program. Other concerns are the political uncertainty and the declining returns from rupiah-based investments.

Commercial Banks, Commercial Banking, Financial management, Banking industry, Prices and rates, Rupiah (Indonesia)

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