INDONESIA: Alternative economic program

Wednesday, April 12, 2000 - 10:00

Alternative economic program

The People's Democratic Party (PRD) says that the government does have alternatives to slavishly following the International Monetary Fund's austerity prescription for Indonesia's ailing economy.

Its alternative economic program includes plans to:

  • cancel the foreign debt;

  • end funding for insolvent banks;

  • nationalise Suharto's assets in Indonesia and abroad (estimated at US$16 billion);

  • nationalise the military's businesses and reduce the military budget;

  • stop bureaucrats' overseas travel; and

  • clean up corruption in the public sector and government bureaucracy, not by privatising public services but by trying and charging corrupt officials.

From GLW issue 401