ID :
40304
Mon, 01/12/2009 - 22:30
Auther :
Shortlink :
https://www.oananews.org//node/40304
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RI TO BE MORE INDEPENDENT IN MANAGING ITS DEBTS
Jakarta, Jan 12 (ANTARA) - National Development Planning Minister Paskah Suzetta said the Indonesian government would have more independence in managing its debts with a declaration to that effect by donor countries and agencies.
"A 'Jakarta Commitment' containing the donors' declaration to implement the Paris Declaration 2005 will be issued on Monday evening. The Jakarta Commitment will state that the use of loans or grants will be determined not by them (donors) but by the Indonesian government," the minister said.
He said 18 donors, including multilateral agencies, would party to the Jakarta Commitment.
"This is the commitment of donors to implement the Paris Declaration which in substance states that it is us that will determine the loan or grant programs," he said.
The Paris Declaration issued on March 2, 2005, was an international agreement made by more than 200 ministers, heads of agencies and a number of senior officials to continue efforts to increase cooperation in loan and grant supervision and management.
The agreement which also states 12 indicators of success in the use of loans is expected to produce a significant change with regard to the impact of the loans on increasing development.
Several big donors such as Japan, the World Bank and the Asian Development Bank are certain to participate in the Jakarta Commitment.
Indonesia's total debts until the second quarter of 2008 were worth US$62.10 billion coming from bilateral agreements (US$33.42 billion) and multilateral (US$18.35 billion).
In total, the amount of the country's debts had continued to drop from US$68.58 billion in 2004.
"A 'Jakarta Commitment' containing the donors' declaration to implement the Paris Declaration 2005 will be issued on Monday evening. The Jakarta Commitment will state that the use of loans or grants will be determined not by them (donors) but by the Indonesian government," the minister said.
He said 18 donors, including multilateral agencies, would party to the Jakarta Commitment.
"This is the commitment of donors to implement the Paris Declaration which in substance states that it is us that will determine the loan or grant programs," he said.
The Paris Declaration issued on March 2, 2005, was an international agreement made by more than 200 ministers, heads of agencies and a number of senior officials to continue efforts to increase cooperation in loan and grant supervision and management.
The agreement which also states 12 indicators of success in the use of loans is expected to produce a significant change with regard to the impact of the loans on increasing development.
Several big donors such as Japan, the World Bank and the Asian Development Bank are certain to participate in the Jakarta Commitment.
Indonesia's total debts until the second quarter of 2008 were worth US$62.10 billion coming from bilateral agreements (US$33.42 billion) and multilateral (US$18.35 billion).
In total, the amount of the country's debts had continued to drop from US$68.58 billion in 2004.
