Big is best

Article Abstract:

The International Monetary Fund (IMF) has pledged $10 billion towards a $33 million rescue package to solve the economic problems in Indonesia. This money will be more than enough and it should ensure Indonesia's economic stability. Japan and Singapore have also promised to contribute $5 million each, the US has offered $3 million and Australia and Malaysia have pledged $1 billion. The rupiah has increased against the US dollar as a result. The pledge was made quickly because the IMF felt that Indonesia would be able to tackle its problems effectively.

Foreign Aid-Loans, International Monetary Fund, Finance, Economic assistance, Foreign economic assistance, Foreign loans

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Food for thought

Article Abstract:

Higher rice prices resulting from a continuing shortage are pushing Indonesia's inflation rate higher than 1994's 9.2%, though other factors contribute. An expected tightening of monetary policy could force interest rates 1.25% above the present 20-21%. The trade account's surplus has shrunk to $8.1 billion, with a target for non-oil exports of $36.2 billion in 1995 apparently beyond reach. Chemical Bank says a higher current-account deficit will be the country's main problem in the coming year.

Inflation (Finance), Inflation (Economics), Food prices

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Feeling the pain

Article Abstract:

Indonesia's currency crisis has led to unemployment and inflation, especially of food prices. Social unrest could result if this continues. Rural Indonesians have been hit by drought. Ethnic conflict could also become a problem. The country's ethnic-Chinese businessmen have been linked to the drop in value of the Indonesian rupiah by people interviewed in the street. Companies dependent on imports have also been hit and have had to shed jobs.

Currency Stabilization Programs, Currency stabilization, Rupiah (Indonesia)

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