Stand-off in Jakarta

Article Abstract:

President Suharto of Indonesia has put the International Monetary Fund (IMF) in a difficult position. The IMF agreed to commit $33 billion to Indonesia in Jan 1998 in return for Suharto's agreement to economic reforms. However, Suharto, after his re-election in Mar 1998, began to question the reforms. Some analysts think that Suharto is bluffing the IMF. The IMF, with the support of major world leaders, will not now release the next part of the financial package, but the move could lead to civil unrest amongst the Indonesians who are already experiencing rising prices and unemployment.

International Affairs, Finance, taxation, & monetary policy, Intnl Monetary Fund, International Monetary Fund, International relations, Indonesia, Suharto, International economic relations, Indonesian foreign relations

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Winds of change

Article Abstract:

The collapse of five South Korean industrial conglomerates has shown that quality is the key rather than expansion and quantity. The government had encouraged the growth of conglomerates which have become too large to micro-manage. Land prices, interest rates and wages have tended to push up costs. The government is seeking to tackle the problem through a new labor law and planned financial reform. The government also aims to make more progress with deregulation.

South Korea, Deregulation

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