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NGOs reject govt’s plan to assist IMF

Senin 02 Juli 2012 19:30 WIB

Rep: Satya Festiani/ Red: Yeyen Rostiyani

International Monetary Fund (IMF)

International Monetary Fund (IMF)

Foto: www.topnews.in


REPUBLIKA CO.ID., JAKARTA - Several Non-governmental Organizations reject government's plan to assist the funding for International Monetary Fund (IMF) in around a billion USD or similar to 9.4 trillion IDR. Earlier, Minister of Finance, Agus Martowardojo, said government would provide some money as loan to IMF to strengthen its capital. 

"As members of civil citizen, we reject government’s commitment to raise the IMF's capital," the Coordinator of Anti-debt Coalition (KAU), Dani Setiawan, said on Sunday.

Setiawan said the reformation in this international financial institution had shown some flaws. The developed countries still dominate the decision-making process in IMF's Executive Board. The monetary and tight fiscal policy is still a favored policy imposed to the “patients” of IMF, including Europe.

Setiawan said IMF debt to tackle European crisis would only give the benefit to big banks which caused the crisis in US and Europe, while the receiving debt countries will burden the crisis due to social budget cut.

IMF, he added, did not deserve to be financial adviser for Indonesia because it was failed on 1997-1998. Even, Indonesia still pays the recapitalization bonds in 60 trillion IDR per year.


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