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Further IMF injection for Jakarta

Further IMF injection for Jakarta

(Indonesia) - Better performing Indonesian financial markets and improved confidence among major creditors, are to receive further stimulus from the IMF's approval of a new loan tranche. Further longer term gains for the Indonesian markets, however, depend on continuing reform progress particularly in the areas of privatisation and bank restructuring, along with results of a forthcoming meeting of Indonesia's private creditors under the "London Club".

The IMF's current approval is for a US$347 million loan tranche for Indonesia and the waiving of several conditions under the US$4.6 billion loan programme.

Rating agency Moody's Investors Service has also just lifted its outlook on the country to positive in some key financial ratings areas.
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