Jakarta goes all out to convince skeptics of progress: IMF official says sufficient steps to reform economy warrant release of $1 billion credit

Article Abstract:

Indonesian coordinating minister for finance, economy and production Ginandjar Kartasasmita convinced visiting International Monetary Fund (IMF) first deputy managing director Stanley Fischer into releasing the first $1 bil of its $3 bil loan from the international lending agency. Kartasasmita challenged skeptics into the viability of business in Indonesia, citing the government's aggressive move to back up economic reforms to liberalize the economy. The IMF plans to release the next $2 bil credit to Indonesia on a monthly basis depending on Indonesia's compliance with its promised reforms.

Administration of Urban Planning and Community and Rural Development, Economic Development NEC, International Monetary Fund, Finance, Economic development, International relations, International financial institutions, Indonesian foreign relations

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Officials worry competition, small base could hinder Jakarta market's progress

Article Abstract:

The Jakarta Stock Exchange (JSX) is enjoying a vibrant recovery as listings have reached 229, market capitalization reached $53.3 billion, foreign investments are coming in and a new automated trading system has been inaugurated on Oct. 2, 1995. However, JSX officials are worried because only 200,000 Indonesians, or barely 0.1% of a population of 192 million, buy stocks. The JSX has a bad reputation because of scandals and stock market collapse in the late 1980s and early 1990s. Moreover, Indonesians can easily earn 15% interest on money deposited in savings accounts.

Securities & Commodities Exchanges, Securities and Commodity Exchanges, Security and commodity exchanges, Reports, Securities industry, Securities, Jakarta Stock Exchange Inc.

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Obstacles hinder mining deal; conflicting reports surroung Bre-X, Barrick Plan

Article Abstract:

The contract to develop Indonesia's Busang deposit located in Borneo has been delayed because of disagreement between the two participating Canadian firms, namely, Bre-X Minerals Ltd. and Barrick Gold. The two firms have intended to form a joint venture but price and ownership issues continue to obstruct finalization of plans. The Indonesian government's rule on mining will also be a factor on the outcome of the deal.

Gold Ore Mining, Gold ores, Planning, Gold industry, Barrick Gold Corp., Bre-X Minerals Ltd.

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