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Thursday, November 04, 1999, updated at 10:11(GMT+8)
World Indonesian President Meets IMF Representative

Indonesian President Abdurrahman Wahid discussed the new government programs with the visiting International Monetary Fund (IMF) Director for Asia Pacific Hubert Neiss during a meeting with him on Nobember 3.

Talking to reporters after the meeting, Neiss said the IMF is ready to assist Indonesia in implementing the programs, particularly in agriculture and small-and-medium scale entrepreneurial development.

"The IMF is familiar with such programs. The IMF's programs are flexible and can be adjusted," he said.

Neiss said the IMF is ready to help Indonesia to continue its economic recovery programs.

The programs for state-owned bank restructuring must be accelerated, he said, noting that similar programs on the private banks have worked more smoothly than in the early period.

On the Bank Bali scandal, Neiss said the IMF hoped such scandals will not happen again in the future, as the funds will strengthen the country's banking restructuring agency.

The scandal involves the dubious transfer in early June of a commission of some 546 billion rupiah (78 million US dollars) from the Bank Bali to a private firm linked to close associates of former president B.J. Habibie and the former ruling Golkar Party. The commission was paid ostensibly for a private company's assistance in recouping loans from closed banks.

In September, the IMF decided to temporarily stop the disbursement of its aid to Indonesia until the results of the Australia-based Pricewaterhouse Coopers' audit report on the scandal were fully made public.

Coordinating Minister for Economy, Finance and Industry Kwik Kian Gie Tuesday presented the 400-page report to Neiss in line with an earlier order by the president to make the report available to the public and the IMF.

Neiss said he will report to the IMF Director's council in Washington on Friday about his meetings with Indonesian government officials.

After that, the IMF technical team and Indonesia will discuss the Fund's further programs for the country, he added.

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