Dangerous Liaisons? Financial Crisis, IMF and the Indonesian State

Kurnya Roesad
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Kurnya Roesad: Centre for Strategic and International Studies, Jakarta, Indonesia

No WPE055, CSIS Economics Working Paper Series from Centre for Strategic and International Studies, Jakarta, Indonesia

Abstract: The paper provides an assessment of the IMF-led economic program by way of reconstructing the events that shaped the relationship between the Soeharto, Habibie and Abdurahman Wahid governments and the IMF in negotiating and implementing the adjustment packages. Particular attention is paid to an analysis of the reforms in three areas: macroeconomic stabilisation, debt management and banking restructuring. The first part provides a brief discussion on the causes of the crisis in Indonesia. The second part specifically discusses the role of the interaction between the IMF and the governments of Indonesia in responding to the crisis. Lastly, the paper points to some implications for the internal and external security situation for Indonesia.

Keywords: Indonesia; International Monetary Fund (IMF); macroeconomic stabilisation; debt management; banking restructuring; political economy (search for similar items in EconPapers)
JEL-codes: E65 F33 (search for similar items in EconPapers)
Date: 2000-08
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