Indonesian Finances
(N.Z.P.A.-Reuter—Copyright) DJAKARTA, May 8.
Indonesia’s Finance Minister gave Parliament a blunt warning yesterday about the country’s financial condition.
Sultan Hamengku Boewono, who is also a Deputy Premier, said the State had been reduced to living on credits and declining gold and foreign exchange reserves. He said businessmen preferred speculation to investment, administration was at a standstill, and the country had been forced to conclude short-term loan agreements at high interest rates.
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Bibliographic details
Press, Volume CV, Issue 31054, 9 May 1966, Page 15
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73Indonesian Finances Press, Volume CV, Issue 31054, 9 May 1966, Page 15
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