Edition 54: Apr-Jun 1998

Nation in crisis

The World Bank has joined the IMF in a huge rescue package. Indonesian non-government organisations (NGOs) presented this memo to World Bank president James Wolfensohn in Jakarta.
The IMF recipe is no cure for Asia's collapsed economies, says WALDEN BELLO. Instead, a people's strategy is emerging that looks to self-reliance and democratic control over capital.
We, more than one hundred Indonesian and non-Indonesian non-governmental organisations (NGOs) participating in the International NGO Forum on Indonesian Development (Infid), are deeply concerned about the ongoing economic turmoil in Indonesia which many fear may lead to political turmoil as well.
Indonesia has been brought to its knees by a small club of crony capitalists, says GOENAWAN MOHAMAD. The IMF deal offers hope because it will weaken their grip on the economy of 200 million other Indonesians.
GERRY VAN KLINKEN traces the spectacular financial events that paralysed the country's business and political elites.
In this snapshot of politics at the end of January, ARIEF BUDIMAN worries that the embryonic alliance between Amien Rais and Megawati remains vulnerable to government attack.