IMF praises RI economic management

JAKARTA. A team from the International Monetary Fund (IMF) has praised the country’s macroeconomic management after visiting several cities in Indonesia from Dec. 3 to 17, Antara news agency reported.

In order to evaluate the current development in the country with regard to short-term, medium-term and future perspectives, the team led by David Cowen held a discussion about 2014 article consultation with the government and Bank Indonesia (BI) on the IMF website.

The team also held meetings with the private sector, civilian communities and academics. The results of the visits and discussion will be presented to the IMF Executive Board in February 2015.

“The good management of macroeconomics has increased the credibility of Indonesia’s policies and external resilience. The country’s policies and foreign exchange reserves have been strengthened over the past 18 months,” Cowen said in a press statement posted on BI’s website on Monday.

“The framework of policies at present has been focused on maintaining macroeconomic and financial stability while promoting structural reform to increase economic growth potential and employment opportunities for young people in Indonesia. The reforms to expand fiscal room, deepen the financial market and cover infrastructure gaps and skills can boost growth to six percent or more in the medium term.”

According to the IMF team, in the short term, Indonesia’s economic prospects will continue to be influenced by global conditions as a result of declining commodities prices and tightening of financial conditions.