Australian Financial Review http://www.afr.com.au/content/990315/world/world1.html
$50bn Indonesian bank rescue
By Tim Dodd, Jakarta
The International Monetary Fund has endorsed Indonesia's $50 billion bank rescue plan which will close 38 insolvent banks, recapitalise nine that are semi-viable and put seven more under government ownership.
[...} He said the announcement of the plan "should strengthen confidence and therefore should strengthen the rupiah". The bank closures will occur during a tense period because of the continuing violence in Ambon and the forthcoming parliamentary elections in June.