 In Indonesia a government decision to raise fuel and electricity prices as part of its current IMF programme sparked riots early January. The government backed down, despite threats by donors (led by the World Bank) that this might jeopardise financial support. Donors did not carry out their threats, as unrest risked derailing the entire adjustment programme and because of concerns about disturbances in the world's largest Muslim country. The crisis has increased pressure from legislators not to continue borrowing from the Fund. In January the government announced it would not seek to extend the arrangement which expires at the end of 2003. Indonesia's battle of will with the IMF Indonesian MPs: write-off IMF loans, Bretton Woods Update 29 This text may be freely used providing the source is credited. This page is: <http://brettonwoodsproject.org/art.shtml?x=15888> Published: 1 April 2003 , last edited: 27 May 2010 Viewings since posted: 3905 |
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