Government Asks for Recognition of Debt Management System
Wednesday, 03 January, 2007 | 17:14 WIB

TEMPO Interactive, Jakarta: The government has asked that multilateral financial institutions recognize the system of Indonesian Debt Management.

This recognition will accelerate the implementation of projects financed with foreign loans.

“They (the World Bank and the Asian Development Bank) must reposition themselves,” said Widjanarko, Director of the Department of Finance on Evaluation, Accounting and Settlement Division, Thursday (12/28) in Jakarta.

According to him, the representatives of multilateral financial institutions in Indonesia should not depend on the head offices of both these institutions.

Representative offices of the World Bank and the Asian Development Bank should have the authority to issue a no objection letter upon debt management by the Indonesian government.

Deputy State Minister of National Development Planning Lukita Dinarsyah Tuwo added that the main problems in making use of foreign loans included: the different procedure in creditors' administration; the weak ability of human resources in implementing projects; and delays in the supply of goods and services.

Kurniasih