FROM THE OFFICE OF PUBLIC AFFAIRS

We welcome the announcement in Jakarta today that the International Monetary Fund and the Government of Indonesia have reached agreement on a revised economic program designed to stabilize the Indonesian economy. The United States has a strong economic and national security interest in seeing Indonesia succeed in these efforts, which will depend on its ability to sustain both economic and political reforms. We will be consulting with the international financial institutions and other countries around the world to ensure that international support for Indonesia is sufficient for it to meet the difficult challenges it currently faces. We look forward to the timely board approval and disbursement of these funds, as well as those from the World Bank.

We also welcome the Asian Development Bank's announcement that it has approved a substantial loan to improve financial sector governance in Indonesia. This loan will support efforts to strengthen Indonesia's banking system and is critical to restoring financial stability and growth.