## Indonesia: Eleventh Review Under the Extended Arrangement

_IMF Staff Country Reports, January 23, 2004_

## Source details

**Canonical URL:** [Indonesia: Eleventh Review Under the Extended Arrangement](https://www.imf.org/en/publications/cr/issues/2016/12/30/indonesia-eleventh-review-under-the-extended-arrangement-17142)

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## Bibliographic details
- Published: January 23, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451818253.002

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### Executive summary and main priorities
- The main priority was to seek assurances that policies were on track to facilitate a smooth transition to the postprogram environment.
- A stable exchange rate and continued declines in inflation have allowed reductions in interest rates in support of the economic recovery.
- With inflation risks now more balanced, Bank Indonesia's commitment to maintain a cautious monetary stance will help safeguard the hard-won gains on inflation and exchange rate stability.
- The Indonesia Bank Restructuring Agency is making good progress in bringing its asset sales programs to a successful conclusion.

### Macroeconomic conditions and monetary policy
- Exchange rate: described as stable.
- Inflation: continued declines noted; risks now more balanced.
- Interest rates: reductions have been possible to support the economic recovery.
- Bank Indonesia policy stance: commitment to maintain a cautious monetary stance to safeguard gains on inflation and exchange rate stability.

### Financial sector restructuring
- Indonesia Bank Restructuring Agency (IBRA): reported to be making good progress toward successful conclusion of its asset sales programs.

### Subject areas and keywords covered
- Subject: Banking, Budget planning and preparation, Government debt management, Inflation, Monetary base, Money, Prices, Public debt, Public financial management (PFM)
- Keywords: Budget planning and preparation, conclusion of the executive board's discussion, CR, debt service, disinflation effort, GDP, Global, Government debt management, IBRA debt redemption, Inflation, ISCR, Monetary base, reform effort, SDR

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/indonesia-eleventh-review-under-the-extended-arrangement-17142_