Indonesia has postponed 15 major building projects as it struggles to overcome its economic crisis.

The projects include power plants, toll roads, a regional airport and what would have been the world's tallest tower.

The announcement followed intervention in Indonesia's crisis by US President Bill Clinton, who telephoned Indonesia's President Suharto when the rupiah nosedived on Thursday.

He insisted Indonesia speed up economic reforms in line with an International Monetary Fund rescue package.

Panic buying in Indonesia

The economic crisis has led to rising food prices, government subsidised rice markets and panic buying as ordinary Indonesians stock up.

The State Secretariat Minister Murdiono said President Suharto decided to delay the projects after a thorough study although it is not clear how much money will be saved.

A number of the projects had been proposed by interests linked to members of Suharto's family and associates

Among the biggest is the $1.6 billion, 1,320-megawatt Jati C power plant, intended for Java, which critics had described as unnecessary and too expensive.

Another postponed project is the Menara Jamsostek, a proposed 1,558-metre (1,830-foot) tower, that would have dominated the north of Jakarta.

The IMF's top two officials, managing director Michel Camdessus and his deputy Stanley Fischer, are travelling to Indonesia with the American Deputy Treasury Secretary Lawrence Summers.
 

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