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Indonesia to seek soft loan to plug deficit in 2010 state budget
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14:18, August 03, 2009

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Indonesian president Susilo BambangYudhoyono said in Jakarta on Monday that his government would seek funds to plug its deficit or 98 trillion rupiah (around 9.8 billion U.S. dollars) in its 2010 state budget from soft loan instead of the International Monetary Fund (IMF).

"In a bid to overcome the impact of global financial crisis, the government would not take the assistance of the IMF like it was in 1998," the president told the lawmakers in the parliament in a hearing session to convey the government's 2010 state budget.

Instead of asking for the IMF's assistance, government would seek foreign soft loans, issuing state bonds in domestic market, issuing regular and Islamic bonds in international markets and to take standby loans provided by other financier agencies which are yet to be used in 2009, he said.

According to Susilo, the deficit figure was still safe to secure the national economy and the government's development program.

Source:Xinhua



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