This is the IMF's disbursement of loans to Indonesia.

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08/03/2018 08:08 WIB

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Indonesia's debt to the IMF during the economic crisis reached US$14.99 billion, disbursed between 1997 and 2003.

IMF Loan Disbursements to Indonesia (1997-2003)

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IMF Loan Disbursements to Indonesia (1997-2003)

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During the 1998 economic crisis, the Indonesian government sought assistance from the International Monetary Fund (IMF). Of the approved 17.36 billion Special Drawing Rights (SDRs), Indonesia only drew down 11.1 billion SDRs, equivalent to US$14.99 billion. At the then-current exchange rate, this amounted to approximately Rp 93.5 trillion.

On November 5, 1997, the IMF approved a loan of 8.34 billion SDRs. Five days later, a disbursement of 2.2 billion SDRs was made. Then, in 1998, Indonesia received further disbursements totaling 4.25 billion SDRs in eight tranches. The final disbursement, amounting to 1.38 billion SDRs in four tranches, occurred in 2003.

For the record, Indonesia's debt to this international monetary institution was fully repaid in 2006. That year, the government accelerated payments to the IMF, settling 5.46 billion SDRs in principal and 198.52 million SDRs in fees and interest.

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