Indonesia

The Indonesian authorities are to be commended for their continued strong policy performance under their arrangement with the IMF. The economy is sustaining steady growth despite a number of external and domestic shocks; inflation has continued to decline; and there has been an additional buildup of international reserves. Indonesia's fiscal policy remains geared toward achieving a significant fiscal consolidation and reduction in public debt. Progress has also been made in structural areas. The authorities are also encouraged to keep up the momentum of the privatization program.Extended arrangement reviews;external debt, bonds, current account, short-term debt, international reserves, financial sector, external financing, stock market, domestic debt, debt service, bond, repurchases, financial market, domestic financing, imf repurchases, balance of payments, government bonds, financial safety net, current account balance, current account deficit, public sector debt, asset recovery, long-term debt, imf purchases, central bank, financial system, portfolio investment, official creditors, government debt, public finances, sovereign bond, external debt sustainability, public debt, domestic debt issuance, debt sustainability, deposit insurance, nominal interest rate, financial statements, repayments, private creditors, private sector debt, hedge, bond issues, domestic currency, commercial creditors, debt relief, loan disbursements, debt outstanding, commercial borrowing, government deficit, stock exchange, debt from private creditors, nominal depreciation, debt from official creditors, debt ratio, net debt, market debt, bilateral agreements, bond redemptions, external disbursements, bond issuance, deficit financing, debt rescheduling, financial markets, indexed bonds, crowding out, external shocks, general resources account, recapitalization bonds