IMF Optimistic Indonesian Economy Will Improve
Thursday, 26 April, 2007 | 17:00 WIB

Tempo Interactive, Jakarta: Stephen Schwartz, Senior Representative in Indonesia of the International Monetary Fund (IMF), is confident that economic growth this year will reach six percent.

Schwartz said he was satisfied with the performance of the Indonesia economic team.

The IMF concluded that the Indonesian economy has improved compared to last year.

“We are estimating that the economy will grow by six percent in 2007,” said Schwartz when closing a meeting with reporters at the Four Seasons Hotel, Jakarta.

Last year, according to the IMF, growth was only 5.5 percent.

This means that there are only three emerging market countries in Asia that are growing faster than Indonesia: China (10 %), India (8.4 %) and Vietnam (8%).

The achievements made have satisfied the IMF, regarding the performance of Indonesia's economic team.

“They have continued the work of (former president) Megawati's economic team, which succeeded in stabilizing the macro condition and now starts to improve to a higher level,” he said.

Schwartz is optimistic that Indonesia can realize economic growth of between 6.5 and seven percent within a short period of time should this performance be sustained.

Next year, for instance, the IMF has forecast that Indonesia's economic growth will reach 6.3 percent.

The IMF team, according to Schwartz, will come to Indonesia at the beginning of next month to carry up routine monitoring.

“After the report is complete, we will discuss it in detail,” said Schwartz.

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