Moreover, the IMF did not try to curb Suharto's system of patronage that was damaging the country's economy and undermining the IMF accord. Earlier Talks about Extension of Contracts 13 November Join Us In-depth columns and analyses of Indonesia's sectors, companies and commodities Updates on political, economic and social matters Access to investment projects For investment ideas and how to realize them Register Newsletter Subscribe to our Newsletter. The Indonesian economy and social indicators were still showing worrying signs.
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Even during this crisis Indonesia showed robust growth with 4. Examine the current state of the U. On Tuesday 20 November markets are closed for a public holiday. But, albeit fragile, Indonesia's economy improved gradually throughpartly due to an improving international environment which caused a rise in export revenues.
After the government decided to reduce the subsidies on fuel in early May, large-scale riots broke out in Medan, Jakarta and Solo. Find out how it happened. When the crisis hit, Indonesia saw a large outflow of money again but was able to guarantee a stable economy due to sound economic fundamentals. Another important factor that seriously aggravated the financial crisis in Indonesia was the terrible state of the Indonesian financial sector.
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