President Asks IMF to Revise Vote Quota Formula
Thursday, 25 January, 2007 | 14:07 WIB

TEMPO Interactive, Jakarta: President Susilo Bambang Yudhoyono has asked the IMF to revise the formulation of vote quotas at the institution.

“We want the formula to have a larger aspect on economics with less emphasis on foreign exchange,” said Coordinating Minister for the Economy Boediono after, with the President, meeting with IMF officials yesterday (01/24) in Jakarta.

Indonesia, Boediono continued, wanted the IMF to pays more attention to the role of the economy in the Asian region.

This role must be considered when preparing the vote quota formula at the IMF so that Indonesia's representation is sufficiently significant.

In addition to discussing the quota, Yudhoyono and de Rato also talked about internal reform in the international institution.

As an IMF member, the Minister said, Indonesia has an interest in the internal management of the IMF.

De Rato explained that he and President Yudhoyono discussed the openness of the IMF and adjustments on how to measure loan quotas.

De Rato confirmed that he has basically agreed that the quota formula be more representative with the current condition of global economics.

Yudhoyono's idea, he said, must be discussed with all members of the IMF, who surely have different points of view.

“I think that by the end of the discussions about this, there will be a consensus which, hopefully, can be accepted by all parties,” De Rato said.
OKTAMANDJAYA WIGUNA