Suharto buys more time

Article Abstract:

The relative recovery in the Jakarta, Indonesia, stockmarket should not be mistaken for a rebounding economy. Evidence shows the Indonesian economy is getting worse and a standoff between the government and the International Monetary Fund (IMF) is damaging all hopes. However, President Suharto's reelection and the appointment of a new cabinet have sent strong signals that the government is moving toward stability.

Suharto

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Investors sweating on next move by Jakarta

Article Abstract:

Indonesia is complying with economic restrictions by the International Monetary Fund in exchange for a $23 billion stabilization package. Bank Indonesia has closed 16 troubled banks, some owned by the country's powerful first family. Neighboring Singapore is contributing $5 billion, Malaysia and Australia $1 billion and the US is contributing $3 billion toward assistance.

Economic assistance, Foreign economic assistance, Economic stabilization

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Business toughs it out in Indonesia

Article Abstract:

Some leading Australian investors in Indonesia have decided to continue their long-term plans and ride out the political turmoil in 1998. The International Monetary Fund declared reform must continue and analysts claim the government may not complete such reforms for two years. Most Australian investments are concentrated in resources like coal and gold.

Australia, Foreign investments, Investments

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