The IMF is critical of the Indonesian’s government’s decentralization plans, which it believes could lead to excessive borrowing by regional governments. The government is in talks with the IMF to find ways to implement its new regional autonomy law. The IMF, apparently frustrated by the political situation and the slow pace of reforms, has withheld a loan installment of US$440m. Local media report that Indonesian President Abdurrahman Wahid said that the IMF “must learn the art of compromise”.
In the news
New evidence from Oxfam, the Bretton Woods Project and other NGOs reveals the impact of IFC investments in financial intermediaries on global human rights.
This briefing shows that multilateral governance is at risk if long-overdue IMF quota and board reforms are not ratified.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).