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.

Analysis

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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.

Planning, International economic relations, External debts

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