Bahlil Says the IMF Has Apologized to Indonesia, This is the Reason News – 4 hours ago

Jakarta, CNBC Indonesia – The International Monetary Fund (IMF) had opposed RI’s downstream policy of not wanting to sell raw commodities. However, the latest news is that the IMF has apologized to the government for its criticism.

Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia said the IMF had apologized to the government after criticizing the downstream policy.

“I gave an example from the IMF, but now he has apologized. There was a misinterpretation in the media,” Bahli was quoted as saying, Saturday (21/10/2023).

Some time ago the International Monetary Fund (IMF) suddenly issued a statement that Indonesia needed to consider gradually eliminating the nickel export ban policy and not extending it to other commodities.

Bahlil feels that the message conveyed by the IMF in its study is very clear. The IMF requested that the downstream program in Indonesia be reviewed, especially in terms of cost and benefit analysis because it is detrimental to Indonesia.

“It’s a mess and don’t expand it, what do you mean by people like that intervening in our country, there must be something, right,” he said.

Bahlil feels that the presidential election (Pilpres) will be vulnerable, because those who do not like the current government’s policies will infiltrate political parties and presidential candidates.

“He will join the ruling candidates and political parties. These two have instruments. We don’t want someone to lead our country like that, if we talk about true nationalism,” explained Bahlil.

Apart from that, Bahlil added that those who don’t like downstreaming are those who let Indonesia be invaded by imported goods. This will cause Indonesia to be far from being self-sufficient, both in energy, food and other fundamental things.

Second are parties who like to export raw materials and third are foreign parties who want to get raw materials from Indonesia cheaply without having to invest and build industries domestically.

“I have confidence that there are other parties who will not continue this product, if it is not continued it will be the same as us going back to the colonial era because we will only return to exporting these raw materials,” he concluded.

[Gambas:Video CNBC]

(dce)