On September 11 in Indonesia, the eyes of the financial community were focused on the country’s parliament. Several senior economic ministers, backed up by visiting officials from the IMF, were locked in a battle with politicians over the sale of a majority shareholding in the government-controlled Bank Central Asia.
Agreement from the politicians was the last obstacle holding up a $400 million IMF loan to Indonesia. That night, the main board of the Fund was poised to put the final touches to a new agreement to resume the bailout funding called off months earlier.
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