BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific Arabic Spanish Russian Chinese Welsh
BBCi CATEGORIES   TV   RADIO   COMMUNICATE   WHERE I LIVE   INDEX    SEARCH 

BBC NEWS
 You are in:  World: Monitoring
Front Page 
World 
Africa 
Americas 
Asia-Pacific 
Europe 
Middle East 
South Asia 
-------------
From Our Own Correspondent 
-------------
Letter From America 
UK 
UK Politics 
Business 
Sci/Tech 
Health 
Education 
Entertainment 
Talking Point 
In Depth 
AudioVideo 


Commonwealth Games 2002

BBC Sport

BBC Weather

SERVICES 
Sunday, 25 January, 1998, 06:42 GMT
Japan, IMF to act over Indonesian crisis

Japan and the International Monetary Fund (IMF) will take measures this week to help tackle Indonesia's financial crisis, a Japanese minister said on Sunday.

"This week, we and the IMF will cooperate in taking some sort of measures," Vice Finance Minister for International Affairs Eisuke Sakakibara was quoted as saying by Kyodo news agency.

Sakakibara said the Indonesian rupiah had sunk too far against the US dollar and should come back to around the 4,000 to 5,000 level.

"He said some drastic measures should be taken to aid Indonesia, warning speculators against continuing to sell the rupiah," the agency reported.

Indonesia signed a memorandum with the IMF on 15th January on reforms to deal with the country's financial turmoil, setting out fresh steps Indonesia must take under a 43 billion dollar IMF bailout package agreed last October.

Sakakibara also said negotiations between the South Korean government and Japanese, US and European banks on repayment of external debts owed by the country's private sector were nearing agreement.

"The negotiations are aiming to reach a formal agreement in late January and early February and if the issue is solved, South Korea's financial turmoil will take a rest," he was quoted as saying.

BBC Monitoring (http://www.monitor.bbc.co.uk), based in Caversham in southern England, selects and translates information from radio, television, press, news agencies and the Internet from 150 countries in more than 70 languages.


E-mail this story to a friend