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Comments on other issues: WB chief pledges more funds for RI
Distinguished guest: President Joko âJokowiâ Widodo (right) receives World Bank President Jim Yong Kim (center) at the State Palace in Jakarta on May 20
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span class="inline inline-center">Distinguished guest: President Joko 'Jokowi' Widodo (right) receives World Bank President Jim Yong Kim (center) at the State Palace in Jakarta on May 20. Courtesy of Presidential Palace
May 21, p13
World Bank (WB) president Jim Yong Kim has promised to make more funds available to Indonesia during a meeting with President Joko 'Jokowi' Widodo at the State Palace, during which he described himself as an 'activist' who supports calls for reforms in global financial institutions.
The WB offered Jokowi an opportunity to tap as much as US$12 billion over the next three to four years for various development projects from infrastructure to education, Kim said after the meeting on Wednesday.
Your comments:
Just the usual regular old diplomatic piffle, waffle and meaningless flattery while ugly economic realities continue to remain fully cloaked behind the usual politically correct happy double-speak and obscuration.
Let us not for one minute forget that such financing, be it from the WB, the AIIB, the IMF, etc., only ever comes in the form of a loan, never as a gift, no matter how much politicians may try to put a positive spin on it. It also always comes with a number of hefty strings and conditions attached.
Let us also not forget that such loans also have to be fully repaid at some stage ' in one way, shape or another.
It is very possible that unless this type of financing is correctly handled and fully professionally managed it could only end up worsening Indonesia's long-term economic position and I am not even referring to the increased potential for massive theft and fraud through the usual corrupt practices that take place in certain well-known circles here, either.
Indonesia, I caution, should be extremely careful and very wary of just who it sells its future to. At least two of the institutions mentioned above have a very questionable track record to say the least and one should always remember that all that glitters is not gold.
Nothing against (WB President) Mr. Kim himself personally, but I should also urge caution and say we should all be wary, be very wary, of a self-proclaimed 'activist', especially one heading such a righteous and transparent body as the WB!
May Ling
