Indonesia will not ask IMF for a loan: Minister

Nusa Dua, Bali (ANTARA News) – The Indonesian government has no intention of asking the International Monetary Fund (IMF) for a loan by hosting the 2018 Annual Meetings of the International Monetary Fund and World Bank Group in Nusa Dua, Bali.

“With this event, Indonesia will not ask IMF for a loan,” Finance Minister Sri Mulyani emphasized at a press conference here on Monday.

The former managing director of the World Bank said that the IMF was an institution that only provided loans to countries experiencing a balance of payments crisis.

Mulyani also explained that IMF Managing Director Christine Lagarde had stated that Indonesias economic conditions were good.

Furthermore, the Minister of Finance also explained that currently the world economy is undergoing an adjustment, but that does not mean that Indonesia is experiencing a crisis.

The involvement of Indonesia as a member of the IMF is part of the citizens of the world, which is similar to the membership of a country at the United Nations and the World Bank Group.

“As citizens of the world, we become contributors to the idea of how to make the world a safe place and create shared prosperity,” Mulyani said.

Some 21 Indonesian state-owned enterprises are eyeing Rp200 trillion in investments potentially offered at the 2018 Indonesia Investment Forum (IIF) scheduled on the sidelines of the IMF-World Bank Annual Meetings here on Tuesday.

PT. Bank Mandiri Persero Tbk will coordinate the direct investments, the state-owned banks corporate secretary, Rohan Hafas, stated here on Monday.

“The total worth of the investment is expected to reach Rp200 trillion, and this is a direct investment wherein 95 percent comes from foreign investors,” he remarked, adding that the IIF will synergize investors and related stakeholders to support Indonesias economic growth.

This years IIF, initiated by the central bank Bank Indonesia, Financial Services Authority (OJK), Finance Ministry, and State-Owned Enterprises Ministry represented by Bank Mandiri, will be held at Conrad Hotel here on Tuesday.

“This forum will synergize investors and related stakeholders and provide investments that will help support Indonesias economy,” Hafas noted.

Several hundred investors will explore Indonesias investment potential, he added.

Source: ANTARA News