WASHINGTON: The IMF yesterday praised Indonesia for taking decisive measures to avert a meltdown last year and voiced hope that the next government will follow suit on reforms.
Changyong Rhee, Director of the International Monetary Fund’s Asia and Pacific Department, said that Southeast Asia’s biggest economy was “right on track” after last year’s mini-crisis with projected 5.4 percent growth this year.
Faced with a slide of its rupiah last year, the country notched up interest rates and took up broader reforms. Rhee credited Jakarta with sending “a signal that this time is different from 1997” — the Asian financial.
“What is important is whether the new government will continue this reform agenda. The Indonesian government actually made big progress,” Rhee said.
AFP
