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Dangerous Liaisons? Financial Crisis, IMF and the Indonesian State

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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.

Suggested Citation

  • Kurnya Roesad, 2000. "Dangerous Liaisons? Financial Crisis, IMF and the Indonesian State," CSIS Economics Working Paper Series WPE055, Centre for Strategic and International Studies, Jakarta, Indonesia.
    • Handle: RePEc:sis:wpecon:wpe055
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    File URL: http://www.csis.or.id/working_paper_file/17/wpe055.pdf
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    Keywords

    Indonesia; International Monetary Fund (IMF); macroeconomic stabilisation; debt management; banking restructuring; political economy;
    All these keywords.

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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