WASHINGTON (US) - The International Monetary Fund on Friday approved a delayed review of Indonesia's loan program and said it would release $469 million, the fund said.
Indonesia has a $5 billion loan program with the IMF which expires at the end of this year. The Executive Board of the IMF completed today its eighth review of Indonesia's performance under...an Extended Fund Facility arrangement," the IMF statement said.
The total amount drawn under the loan is now $3.5 billion. The review was delayed because the country and the IMF failed to reach agreement over a couple of issues including the amendment of a law which would allow the Supreme Audit Agency to audit foundations owned by the military or police. The government is expected to decide by the middle of the year whether to start a new program with the IMF but is under considerable pressure from some legislators not to do so.