Word: megawati
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...more relevant to Indonesia's 235 million citizens is the country's halting economic progress. Megawati styles herself as a reformer and a champion of the wong cilik (little people), but Indonesia is only now climbing out of the crater caused by the 1997 Asian financial crisis. Its annual GDP growth rate has averaged an anemic 3.4% since 1999, compared with 6.5% for all other developing East Asian countries, according to the World Bank. Indonesia's rate is expected to rise to 4.8% this year, but David Nellor, Jakarta-based senior resident representative for the International Monetary Fund (IMF), believes...
...Another common complaint is that Megawati has done little to tame the corruption that saps Indonesia's economic vitality. In a survey of businessmen and academics conducted last year...
...That Megawati is blamed for all the ills of the system isn't entirely fair. In fact, she may not be getting enough credit, particularly for bright spots in the economy, which is in its best shape in nearly a decade. The Jakarta Stock Exchange index hit an all-time high in April and foreign-currency reserves are the largest ever at $37 billion. The economy is growing at its fastest rate since 2000, fueled in part by China's soaring demand for commodities?the 17,000-island archipelago is rich in oil, natural gas, gold, copper, nickel, coal, palm...
...contrast, when Megawati took over as President in 2001 after the impeachment of her predecessor Abdurrahman Wahid, the economy was on the verge of another debt crisis. "We had to rebuild the economy, not from scratch but from ruin," says Laksamana Sukardi, Megawati's minister for state enterprises. "We can't really please everyone in two years." But, he adds, much has been achieved: "I guarantee that there will never be a crisis like 1997 again...
...Golkar's Wiranto is gaining by tapping into lingering nostalgia for the high-growth days of Suharto. During the party's political convention, Wiranto emphasized his ties to the strongman with a black-and-white video that juxtaposed his face and the dictator's. The biggest threat to Megawati, however, is Yudhoyono. The 54-year-old four-star general, who resigned from Megawati's Cabinet in March, is seen by the public as tougher on terror and a stronger leader than the wishy-washy Megawati...