Bank Intl. Indonesia BII: brenzlig (mvT)
Autor: didi-war
Datum: 04/01/2000 - 12:55
Board: Asien
Wertung bisher:
Ihre Wertung: genial sehr gut gut keine mittel schlecht unserioes
INDONESIA: IMF urges action over Bank Indonesia
By Joe Leahy in Jakarta
The International Monetary Fund has called on Indonesia's central bank to act rapidly on the findings of an independent audit which suggests that Bank Indonesia is technically bankrupt.
Remedial action is expected to include the recapitalisation of the bank, and would be linked to future IMF loan disbursements to Indonesia, the IMF said yesterday.
The recapitalisation will add to the government's overall indebtedness - a blow for a country already struggling with public debt that last year was estimated by the World Bank at more than 100 per cent of gross domestic product.
"The corrective action would include some recapitalisation of Bank Indonesia and this will add to the debt burden," John Dodsworth, IMF Jakarta office senior resident representative, said yesterday.
He said the government was expected to include the measures in its next letter of intent to the IMF, due to be signed in the middle of this month.
The letter, an outline of the government's proposed economic programme, must be revised and mutually agreed before every IMF loan disbursement.
Indonesia has been dependent on international financial support since it suffered a devastating financial crisis two years ago.
The audit, details of which were released on Friday, was conducted by the government's Supreme Audit Board helped by KPMG, the international consultancy. The board said weak internal supervision and other problems within Bank Indonesia meant it could not provide an official opinion on the central bank's true balance beyond that it was probably negative.
Mr Dodsworth described the audit, one of the first of its kind to be released publicly, as a positive development for transparency, adding that the findings should not affect Bank Indonesia's ability to function normally.
But he warned it would not be enough for the government simply to recapitalise the central bank. "The audit's findings are on internal controls, on management practices, on accounting practices and on banking supervision; these are the areas where we will be looking to see what Bank Indonesia is going to do about the situation," Mr Dodsworth said.
There are concerns, though, that the issue could delay the IMF programme.
Bank Indonesia disputes many of the audit's findings, including the board's refusal to recognise Rp51,000bn ($7bn) that the central bank claims it is owed by the government.
Quelle:
www.ft.com/hippocampus/q316382.htm
luck4all
Autor: didi-war
Datum: 04/01/2000 - 12:55
Board: Asien
Wertung bisher:
Ihre Wertung: genial sehr gut gut keine mittel schlecht unserioes
INDONESIA: IMF urges action over Bank Indonesia
By Joe Leahy in Jakarta
The International Monetary Fund has called on Indonesia's central bank to act rapidly on the findings of an independent audit which suggests that Bank Indonesia is technically bankrupt.
Remedial action is expected to include the recapitalisation of the bank, and would be linked to future IMF loan disbursements to Indonesia, the IMF said yesterday.
The recapitalisation will add to the government's overall indebtedness - a blow for a country already struggling with public debt that last year was estimated by the World Bank at more than 100 per cent of gross domestic product.
"The corrective action would include some recapitalisation of Bank Indonesia and this will add to the debt burden," John Dodsworth, IMF Jakarta office senior resident representative, said yesterday.
He said the government was expected to include the measures in its next letter of intent to the IMF, due to be signed in the middle of this month.
The letter, an outline of the government's proposed economic programme, must be revised and mutually agreed before every IMF loan disbursement.
Indonesia has been dependent on international financial support since it suffered a devastating financial crisis two years ago.
The audit, details of which were released on Friday, was conducted by the government's Supreme Audit Board helped by KPMG, the international consultancy. The board said weak internal supervision and other problems within Bank Indonesia meant it could not provide an official opinion on the central bank's true balance beyond that it was probably negative.
Mr Dodsworth described the audit, one of the first of its kind to be released publicly, as a positive development for transparency, adding that the findings should not affect Bank Indonesia's ability to function normally.
But he warned it would not be enough for the government simply to recapitalise the central bank. "The audit's findings are on internal controls, on management practices, on accounting practices and on banking supervision; these are the areas where we will be looking to see what Bank Indonesia is going to do about the situation," Mr Dodsworth said.
There are concerns, though, that the issue could delay the IMF programme.
Bank Indonesia disputes many of the audit's findings, including the board's refusal to recognise Rp51,000bn ($7bn) that the central bank claims it is owed by the government.
Quelle:
www.ft.com/hippocampus/q316382.htm
luck4all
