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IMF ASKS INDONESIA TO WITHDRAW LOANS AFTER SIGNING LOI: MINISTER.
JAKARTA, May 1 Asia Pulse - The International Monetary Fund (IMF) has asked Jakarta to withdraw its loan every time the Fund and the Indonesian government signed a letter of intent (LoI), a cabinet member said Tuesday.
"The IMF does not allow us to withdraw the loan even though we promise to pay the commitment fees," State Minister for National Development and Planning Kwik Kian Gie said.
Speaking to reporters before addressing participants of a national coordinating meeting for small and medium enterprises, he said the IMF got angry with Indonesiawhen it asked that the loan not be withdrawn.
When he was still coordinating minister for economy under the Abdurrahman Wahid regime, Kwik said he had asked the IMF to allow the Indonesian government not to withdraw its loan.
At that time, the the Washington-based financial agency responded that Indonesia could only do that when its economy had greatly ...
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