S&P puts Jakarta's bailout of banks at 82% of GDP; government underestimated the costs of industry restructuring, ratings agency says

Article Abstract:

Credit rating bureau Standard & Poor's (S&P) has estimated the cost of bailing out Indonesia's banking system at about 82% of the country's GDP. According to the rating agency, this bailout cost is one of the most expensive banking crises in the world since the 1960s. S&P, which predicted the bailout program to be a great fiscal pressure on the government formed after the Jun 1999 parliamentary elections, recommended increased efforts to recover debts from delinquent borrowers and the implementation of a recapitalization program.

Investment Banking and Securities Dealing, Banking Institutions, Depository Credit Intermediation, Periodicals, Periodical Publishers, Indonesia, Securities Services, Banking industry, Finance, Reports, Forecasts and trends, Banks (Finance), Securities industry, Periodical publishing, Standard & Poor's Corp., Rating agencies (Securities)

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Possible purge blurs peace picture

Article Abstract:

Two North Korean prime officials, Kim Yong Sun and Kim Jong II, have recently been sparsely seen. Kim Yong Sun, once by Kim Jong II's side, has only been seen with him once this year, and has also failed to deliver financial rewards for relations with South Korea that Kim Jong II had wanted. The unusual behavior between the two men is thought to have stemmed from recent verbal wars between North Korea and the U.S.

National Government, Public Administration, Public affairs, Political activity, Public officers, Government officials, II, Kim Jong, Sun, Kim Yong

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North Korea seems to be racing toward economic reforms

Article Abstract:

The International Amateur Athletic Federation is hosting a world-class marathon, the Pyongyang International Marathon , which is considered a sign that Kim John Il, the leader of North Korea, is ready for economic reform. The race is expected to draw six hundred local runners as well as 80 top-rated runners from various countries.

All Other Amusement and Recreation Industries, Amateur Sports, Economic development, Competitions, Marathon running, International Amateur Athletic Federation

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