Remember when the monetary crisis hit Indonesia in 1997? Still remembered how to Michel Camdessus, then Managing Director International Monetary Fund, while folded arms watching the late President Soeharto signed the letter contains a promise of economic reform at the insistence of the IMF. Then, came the news, Bill Clinton, then U.S. President, to call Suharto to meet the IMF's insistence, which is considered as a tool of power the Washington Consensus.
Still remember the outrage also Bob (Mohammed) Hassan, then served as Minister of Industry, who in exasperation said, Indonesia is not a republic of the IMF. This refers to the annoyance of pressures to deregulate the IMF to Indonesia, including disperse Bulog, which then lead to the destruction of the procurement system and the prices of basic commodities.
Remembering also Ginandjar Kartasasmita, then Coordinating Minister for Economy, alternating chair the meeting because the IMF is always monitoring every step and promises for economic reform.
This promise has always been associated with the disbursement of funds. If the promise of reform was too late, funding was threatened. Thus, the term was a letter of intent (LOI) is famous among journalists Covering the crisis. LOI contains measures and the realization of the reforms that the IMF dictated against RI.
This is in line with the capital flight from Indonesia, which makes Indonesia is facing the IMF for bailout 43 billion U.S. dollars.
After that, still clearly remember, the IMF director for Asia Pacific Affairs Hubert Neiss alternating oversee the development of Indonesia's economic reform.
All it does is the fruit of negligence businessman Indonesia who borrow cheaply from abroad, but invested in the property sector that did not sell.
It was also due to the buildup of Indonesia's sovereign debt, while at the other side of the plague of corruption rife and bumpers are not prepared to deal with. Then, came the history of "insults" by the IMF to Indonesia, which probably will never be forgotten among some Indonesian.
"Not daring"
Now, more or less similar crises facing the euro zone, the nickname for the 17 countries using the euro single currency. Debt crisis also hit the headquarters and main icons of the market economy as well as the headquarters of the Washington consensus, namely the U.S..
However, where the IMF now? What command Dominique Strauss-Kahn, IMF managing director, who is now replaced by Christine Lagarde?
Is there the IMF was forcing countries prepare LOI? IMF Is there a rebuke to the U.S. and euro zone economy is healthy from an early age? If so, whether the IMF and the courage to publish bad U.S. economic policy and the euro zone as been done to the Republic of Indonesia and other developing countries?
Dr. Rizal Ramli, an economist, had been warned of the dangers of IMF pressure matter of deregulation. Likewise, Kwik Kian Gie highly critical of the IMF for not being able to understand the situation in Indonesia and only impose economic prescriptions without regard to its impact on the poor of Indonesia.
Still remember also a chicken noodle carts left abandoned on the roadside in Kali Malang, East Jakarta. The owner left the handwriting. It's loaded, "exposed to the financial crisis". The crisis actually worsened after the IMF's prescriptions, with a focus on liberalization, which makes the expensive price of wheat at that time. Ah, the hypocrisy of the IMF.
Still remember the outrage also Bob (Mohammed) Hassan, then served as Minister of Industry, who in exasperation said, Indonesia is not a republic of the IMF. This refers to the annoyance of pressures to deregulate the IMF to Indonesia, including disperse Bulog, which then lead to the destruction of the procurement system and the prices of basic commodities.
Remembering also Ginandjar Kartasasmita, then Coordinating Minister for Economy, alternating chair the meeting because the IMF is always monitoring every step and promises for economic reform.
This promise has always been associated with the disbursement of funds. If the promise of reform was too late, funding was threatened. Thus, the term was a letter of intent (LOI) is famous among journalists Covering the crisis. LOI contains measures and the realization of the reforms that the IMF dictated against RI.
This is in line with the capital flight from Indonesia, which makes Indonesia is facing the IMF for bailout 43 billion U.S. dollars.
After that, still clearly remember, the IMF director for Asia Pacific Affairs Hubert Neiss alternating oversee the development of Indonesia's economic reform.
All it does is the fruit of negligence businessman Indonesia who borrow cheaply from abroad, but invested in the property sector that did not sell.
It was also due to the buildup of Indonesia's sovereign debt, while at the other side of the plague of corruption rife and bumpers are not prepared to deal with. Then, came the history of "insults" by the IMF to Indonesia, which probably will never be forgotten among some Indonesian.
"Not daring"
Now, more or less similar crises facing the euro zone, the nickname for the 17 countries using the euro single currency. Debt crisis also hit the headquarters and main icons of the market economy as well as the headquarters of the Washington consensus, namely the U.S..
However, where the IMF now? What command Dominique Strauss-Kahn, IMF managing director, who is now replaced by Christine Lagarde?
Is there the IMF was forcing countries prepare LOI? IMF Is there a rebuke to the U.S. and euro zone economy is healthy from an early age? If so, whether the IMF and the courage to publish bad U.S. economic policy and the euro zone as been done to the Republic of Indonesia and other developing countries?
Dr. Rizal Ramli, an economist, had been warned of the dangers of IMF pressure matter of deregulation. Likewise, Kwik Kian Gie highly critical of the IMF for not being able to understand the situation in Indonesia and only impose economic prescriptions without regard to its impact on the poor of Indonesia.
Still remember also a chicken noodle carts left abandoned on the roadside in Kali Malang, East Jakarta. The owner left the handwriting. It's loaded, "exposed to the financial crisis". The crisis actually worsened after the IMF's prescriptions, with a focus on liberalization, which makes the expensive price of wheat at that time. Ah, the hypocrisy of the IMF.
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