Revenue-raising plans fall victim to domestic politics
Article Abstract:
Indonesia's plan of generating revenues by selling 12 state-owned enterprises may fall through due to internal problems. The Indonesian government planned to generate $1.5 by March 31, 1999 by privatizing a number of government-owned enterprises to help in economic recovery. However, domestic politics are threatening to dissolve the privatization plans. The government has discarded plans to sell 35% of PT Semen Gresik to Mexico's Cemex SA due to protests from the cement company's employees, claiming possible lost of company control to foreign entities.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Indonesia, panel to restructure companies' foreign debt
Article Abstract:
Financially ailing Indonesia and a committee representing foreign-creditor banks disclosed a strategy to reform roughly $80 bil of foreign debt owed by the country's private banks and corporations. The plan provides a chance to creditors and allows the country the opportunity to embark on needed financial changes. Nonetheless, numerous observers cautioned that though the plan offers a structure for reforming the majority of the country's long-term, private-sector foreign debt, considerable perils prevail.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Megawati rejects charges of ties to neo-Communists. Indonesia's Megawati tries to remain in public eye. Veteran economic trouble-shooter to face tough battle: but unassuming Widjojo has a record of sucessful crisis management that dates from the '60s
- Abstracts: Central bank curbs sale of dollars on Interbank market. International summit will pose a challenge for Vietnam
- Abstracts: A bright outlook for private transactions. Index solid as private company earnings rebound. Will p/es for larger private sales continue to rise?
- Abstracts: Rupiah impact seen weaker: ability to dent region's currencies reduced. Stock-market rebound could come by end of 1st quarter
- Abstracts: Pointing to better times: stabilizing demand in Asia may boost exports