For most ordinary Indonesians, mentioning the IMF revives painful memories of the Asian financial crisis, when director Michel Camdessus stood with his arms crossed as a bowed President Suharto signed an agreement listing 50 conditions in return for a bail-out package worth $43bn.
At the time, it was the biggest bail-out in IMF history: a reflection of the depth of Indonesia’s woes. Six years on, the country has now recovered sufficiently to move forward without either the funds or the strictures of the IMF.
