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Indonesia - IMF August 2007

Indonesia - IMF August 2007

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Published by: mdv31500 on Nov 17, 2007
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© 2007 International Monetary Fund
August 2007IMF Country Report No. 07/
272
 [Month, Day], 2001 August 2, 2001 January 29, 2001[Month, Day], 2001 August 2, 2001
Indonesia: 2007 Article IV Consultation—Staff Report; Staff Statement; PublicInformation Notice on the Executive Board Discussion; and Statement by the ExecutiveDirector for Indonesia
Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions withmembers, usually every year. In the context of the 2007 Article IV consultation with Indonesia, thefollowing documents have been released and are included in this package:
 
The staff report for the 2007 Article IV consultation, prepared by a staff team of the IMF,following discussions that ended on May 15, 2007, with the officials of Indonesia oneconomic developments and policies. Based on information available at the time of thesediscussions, the staff report was completed on June 26, 2007. The views expressed in the staff report are those of the staff team and do not necessarily reflect the views of the ExecutiveBoard of the IMF.
 
A staff statement of July 18, 2007 updating information on recent developments.
 
A Public Information Notice (PIN) summarizing the views of the Executive Board asexpressed during its July 18, 2007 discussion of the staff report that concluded the Article IVconsultation.
 
A statement by the Executive Director for Indonesia.The document listed below has been or will be separately released.Selected Issues Paper The policy of publication of staff reports and other documents allows for the deletion of market-sensitiveinformation.
To assist the IMF in evaluating the publication policy, reader comments are invited and may be sentby e-mail topublicationpolicy@imf.org.
 
Copies of this report are available to the public fromInternational Monetary Fund
Publication Services700 19
th
Street, N.W.
Washington, D.C. 20431Telephone: (202) 623-7430
Telefax: (202) 623-7201E-mail:publications@imf.org 
Internet: http://www.imf.orgPrice: $18.00 a copy
International Monetary FundWashington, D.C.
 
 
 
 INTERNATIONAL MONETARY FUNDINDONESIA
Staff Report for the 2007 Article IV Consultation
Prepared by the Staff Representatives for the 2007 Consultation with IndonesiaApproved by Daniel Citrin and Carlo CottarelliJune 26, 2007
 
This report is based on discussions held in Jakarta during May 3–15, 2007.
The staff team comprised Messrs. Zavadjil (head), Reichold, Crowe (all APD), Mati (FAD), Seelig(MCM), and Mesdames Thacker (APD) and Jain-Chandra (PDR). Messrs. Schwartz, Senior Resident Representative, and Morales, Deputy Resident Representative, participated in themission. Messrs. Warjiyo and Agung from the Executive Director’s Office also attendedmeetings.
 
Counterparts:
Discussions were held with Coordinating Minister for Economic AffairsBoediono, Coordinating Minister for Social Affairs Aburizal Bakrie, Minister of FinanceSri Mulyani Indrawati, Bank Indonesia Governor Burhanuddin Abdullah, Minister of TradeMari Pangestu, the newly appointed Minister of State-owned Enterprises Sofyan Djalil,Minister of Planning Paskah Suzetta, and other senior officials, as well as representatives of Parliament, the private sector, academia, and labor unions.
 
Context of past surveillance:
Close relations between the authorities and the Fund have been maintained following the expiration of the extended Fund arrangement onDecember 31, 2003. The staff has been supportive of the authorities’ policy priorities and policy implementation has been broadly consistent with recent Fund policyrecommendations (Table 1).
 
Indonesia’s exchange rate regime is a managed float.
Indonesia has accepted theobligations under Article VIII, Sections 2, 3, and 4, and maintains an exchange system freeof restrictions on the making of payments and transfers for current internationaltransactions.
 
Statistics
are broadly adequate for surveillance purposes, although they could be improvedin some areas (Annex II). Indonesia subscribes to the Special Data Dissemination Standard.The statistics ROSC was completed in early 2005. The fiscal ROSC was completed inSeptember 2006 and the government is implementing the recommendations of this report.
 

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