IMF Imposes Harsh Structural Adjustment on Indonesia

Timeline Eventconfirmed
asian-financial-crisisstructural-adjustmentimf-interventionindonesia-economic-crisisfinancial-colonialismneoliberal-policy
Regulatory CaptureFinancial CaptureIntelligence Penetration
Actors:International Monetary Fund, Indonesian Government, World Bank, McKinsey & Company, Bank Indonesia, President Suharto
1997-10-23 · 1 min read

The International Monetary Fund provides a $40 billion bailout to Indonesia with unprecedented conditions, forcing mass privatization, financial sector restructuring, and the elimination of government subsidies. These conditions systematically dismantle Indonesia's economic sovereignty, benefiting Western corporate interests.

Sources

  1. Recovery from the Asian Crisis and the Role of the IMFIMF
  2. IMF Press Release: Stand-By Credit for IndonesiaIMF
  3. The 1997-98 Asian Financial CrisisCongressional Research Service