“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Monday, January 19, 2009

Govt gets more power over projects

The Jakarta Post, Jakarta | Mon, 01/19/2009 6:14 PM  

Indonesia has signed a commitment with creditors which allows it to access project financing more easily without burdensome conditions. 

Unlike other commitments, the so-called Jakarta Commitment, which was signed last week with 22 creditors, empowers Indonesia to lead all foreign-funded projects. 

Previous funding commitments were often criticized as they normally contained burdensome terms and conditions imposed on the borrowing country. 

Indonesia was represented by the National Development Planning Agency (Bappenas) deputy for development financing Lukita Dinarsyah Tuwo, the Finance Ministry director general of debt management Rahmat Waluyanto and the deputy Coordinating Minister for the Economy, in charge of economic cooperation and international financing, Mahendra Siregar. 

Acting Coordinating Minister for the Economy Sri Mulyani Indrawati and Bappenas chairman Paskah Suzetta were also present. 

Mulyani said Indonesia would no longer be dictated to by foreign creditors when borrowing money to conduct its projects following the signing of the commitment. 

"Thus far, the borrowing country is in a lowly position, so it can find that there are many imposed terms and conditions. The Jakarta Commitment lays down a more equal position or (project) partnership," she said. 

Lawmaker Harry Azhar Aziz said the commitment would benefit Indonesia as the country would now lead on all projects funded by foreign loans. 

Japan is one of Indonesia's largest creditors. The Jakarta Commitment is expected to facilitate talks between the government and Japan regarding project financing. 

The construction of the mass rapid transit (MRT), expected to solve traffic problems in Jakarta is funded by JICA. However, the 20-year-long planned construction has not even started due to a "miscommunication" between JICA and the Transportation Ministry. 

If the Jakarta Commitment can simplify financing matters, then Jakartans may see the city MRT system sooner. 

The commitment will also benefit Indonesia, which may face difficulties in selling bonds to plug the budget deficit. 

In the 2009 budget, the government expects to secure Rp 52.2 trillion (US$4.69 billion) in foreign loans, while also issuing bonds of Rp 99.7 trillion. 

It has talked with several creditors to raise up to $5.5 billion in standby loans to plug the budget deficit if the government raises less from bonds than expected. 

The deficit is set at Rp 51.3 trillion in the 2009 budget. The government plans to raise the deficit to Rp 132 trillion to stimulate the economy amid the global crisis. 

Indonesia has so far borrowed $51.77 billion from 22 creditors, $33.42 billion of which come from bilateral loans and the rest from multilateral loans. 

Creditors signing the Jakarta Commitment

  1. ADB
  2. AFD
  3. JICA
  4. KOICA
  5. NZAID
  6. USAID
  7. DFID
  8. World Bank
  9. UN
  10. Govt of Australia
  11. Govt of Austria
  12. Govt of Canada
  13. EU
  14. Govt of Finland
  15. Govt of France
  16. Govt of Germany
  17. Govt of Italy
  18. Govt of Japan
  19. Govt of the Netherlands
  20. Govt of Norway
  21. Govt of Poland
  22. Govt of Sweden


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