Word: indonesia
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Sell-Off in Indonesia Questions about an IMF bailout prompt panic in the streets of Jakarta. But the Clinton Administration says the plan is sound...
...Japan is in a race to reinvent itself. Unlike Korea, Thailand or Indonesia, whose recoveries depend humblingly on multibillion-dollar handouts from the IMF, Asia's first economic miracle baby has the wherewithal--financial and social--to do the job on its own. The world's biggest creditor nation has more than $11 trillion in household financial assets alone. Having gone through substantial reorganization in recent years, its top manufacturing companies can compete with the best of the rest...
More than the fate of South Korea has dropped into the laptops of the technocrats from Washington. The Asian crisis brewing since the summer has reached the Code Red stage. With Thailand and Indonesia receiving IMF bailouts, the fund has become the main hope for containing the East Asian upheavals before they spread to Japan, and from there perhaps to the U.S. Thailand, which came running to the IMF this summer, is getting a $17 billion aid package. Indonesia will get about $23 billion. South Korea initially asked for $20 billion, but last week its Finance Minister indicated the package...
...drain unless its prescriptions become permanent reforms. For that the region will need strong political leaders who are willing to battle the alliance of bureaucrats, business and labor interests that benefited from the old system. Asian governments have been resisting the details in IMF rescues. The bailout of Indonesia has been slowed by the reluctance of officials to act against firms connected to the children of President Suharto...
...will demand stronger fiscal discipline and less state investment ? economic medicine which may be hard to swallow. ?There is likely to be a long period of political turmoil in Asia as the IMF?s measures take effect,? says Branegan, noting early signs of resistance in Thailand, Indonesia and Korea. Some of those men in aviator jackets may yet pay the ultimate political price for taking the tigers by the tail...