IMF Imposes Harsh Structural Adjustment on Indonesia

| Importance: 9/10 | Status: confirmed

The IMF announces a $40 billion rescue package for Indonesia with unprecedented conditions: mandatory privatization of state-owned enterprises, elimination of subsidies, and comprehensive financial sector deregulation. These conditions effectively transfer economic control from local Indonesian elites to multinational corporations and Western financial institutions.

Key Actors

IMF World Bank Suharto Regime McKinsey & Company Treasury Department

Tags

asian-financial-crisis structural-adjustment economic-shock neoliberal-intervention

Sources (8)

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