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Govt to 'fight' against IMF’s mineral export ban criticism
Coordinating Maritime and Investment Affairs Minister Luhut Pandjaitan will meet the IMF to explain Indonesia's downstream policy, while Investment Minister Bahlil Lahadalia says he has been asked by the President to fight for the policy.
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Coordinating Minister of Maritime Affairs and Investment Luhut Pandjaitan delivers a speech during the first harvest of a food estate in Humbang Hasundutan (Humbahas) regency, North Sumatra, on March 23. (Kemenko Marves/Kemenko Marves)
I
ndonesia will stand firm on its bans on mineral ore exports in order to boost its downstream industry, despite the International Monetary Fund calling on the country to reverse its policy, the government says.
Investment Minister Bahlil Lahadalia said on Saturday that President Joko “Jokowi” Widodo had instructed him to “fight” any parties that sought to interfere in the country's sovereignty.
This was related to the recommendation in the IMF’s recent report that encouraged the Indonesian government to phase out the bans on mineral exports, as the fund feels they may destabilize "the multilateral trade system". Although the IMF did not direct its criticism squarely at Indonesia, but generally at countries seen as throwing spanners into the works of the global economy.
"What did President [Jokowi] say [to me]? Bahlil, [you should] fight and our country's sovereignty must not be encroached by anyone, including the IMF," Minister Bahlil said in an online event on Saturday.
Coordinating Maritime and Investment Affairs Minister Luhut Pandjaitan is set to have a meeting with Kristalina Georgieva, managing director of the IMF, to explain the country's downstreaming policy on mineral commodities, according to an aide.
"Coordinating Minister [Luhut] will meet the IMF managing director on the sidelines of his upcoming visit to the United States. Probably at the beginning of August," said the Office of the Coordinating Maritime and Investment Affairs Minister’s spokesperson, Jodi Mahardi, on Friday, as quoted by Detik.
Read also: IMF reignites debate over Indonesia’s nickel export ban
