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Jakarta Post
The Jakarta Post
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The IMF's management of Indonesia's crisis: A lesson

  • Vincent Lingga
    Vincent Lingga

    The Jakarta Post

Jakarta | Mon, July 10, 2017 | 08:15 am
The IMF's management of Indonesia's crisis: A lesson International Monetary Fund (IMF) sign. (Shutterstock/File)

PREMIUM Without a doubt former president Soeharto’s strong resistance to reforms required by the International Monetary Fund’s (IMF) rescue program should be blamed for Indonesia’s economic crisis that caused what analysts considered one of the most substantial cases of wealth destruction in modern history, as the rupiah melted from Rp 2,500 to the dollar in mid-1997 to Rp 17,500 in earl...

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