(14 Feb 1998) Natural Sound
An International Monetary Fund official said on Saturday senior I-M-F adviser Prabhakar Narvekar was prepared to meet U-S economist Steve Hanke, who is advocating a fixed-rate currency board for Indonesia over the fund's objections.
Hanke said after meeting President Suharto in Jakarta on Friday that the president had suggested talks with Narvekar.
The meeting, in which Suharto appeared relaxed and smiling, were shown on Indonesian TV on Saturday.
Hanke also said Suharto favoured his currency board proposal.
Narvekar met Suharto on Friday before Hanke's session with the president.
International Monetary Fund Managing-Director Michel Camdessus, who diplomatic sources said had sent a letter to Suharto on Thursday arguing against a currency board, strongly reiterated the fund's opposition to the proposal when he addressed a meeting in Washington on Friday.
The United States and Germany have also said a currency board, which would set a fixed rate for the battered Indonesian rupiah against the dollar, was premature for Indonesia.
Suharto last month signed a new agreement with the I-M-F to carry out sweeping economic reforms in return for a 43 (b) billion U-S dollar bail-out package orchestrated by the fund to help the world's fourth most populous nation over its worst economic crisis in decades.
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