IMF Imposes Harsh Structural Adjustment on Indonesia

| Importance: 9/10 | Status: confirmed

IMF approves a $23-43 billion rescue package for Indonesia during the Asian Financial Crisis, mandating severe economic reforms including privatization, banking sector restructuring, and corporate reforms. The structural adjustment program fundamentally reshaped Indonesia’s economic landscape, prioritizing Western corporate interests over local economic stability and triggering significant political and economic upheaval.

Key Actors

IMF Indonesian Government World Bank McKinsey & Company President Suharto

Tags

imf-intervention structural-adjustment indonesia economic-shock financial-crisis banking-reform

Sources (3)

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