President: Indonesia considering non IMF financial assistance format

            President Susilo Bambang Yudhoyono reiterated that the government had decided not to beg for financial assistance from the International Monetary Fund (IMF) amid the ongoing worst impact of the financial crisis on Indonesia. "It does not mean Indonesia is looking down at the IMF. But we are considering other formats if we really need financial assistance from financial institutions. I wish to tell you that I have intention to beg for assistance from the IMF," the president said in an interview with a private TV station here on Sunday.

It was said the statement was once conveyed during a meeting with the IMF board during the G-20 meeting in London several days ago. "I met with the IMF leader in London telling him that Indonesia is considering different formats. We will not forge another cooperation with the IMF as what we did 10 years, which had left a deep psychological trauma," he said.

According to him, Indonesia had a bitter experience with the IMF because of the wrong recipe and miscalculation of Indonesia`s economy. Under the current global financial crisis, the head of state also asked international financial institutions like the IMF and the World Bank to have their role changed, so that it would really function as a financial institution that could help the countries in need of funds.