Indonesia question

kjkhoo at softhome.net kjkhoo at softhome.net
Tue May 28 11:14:32 PDT 2002


Tim Shorrock wrote:
>I covered the IMF Asia bailout for a business newspaper and several other
>publications, and Indonesia followed IMF dictums to the T. For examples,
>look up stories (try the Jakarta Post) about the Indonesia Bank
>Restructuring Agency, which was/is responsible for cleaning up bad loans.
>Whenever its gotten off track, the IMF has stepped in. The Indonesia Letter
>of Intent included detailed plans for privatization of its telecom industry
>that were shoved down the IMF's throat (and then down Jakarta's) by the
>Clinton administration, which was doing the bidding of US multinationals
>hoping to use the crisis to crack the country's telecom markets.

Everything after the first sentence screams against the use of the term "bail-out".



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