Home ECONOMY IMF Opposes Indonesia’s Export Ban, Bahlil: Are They Dreaming?

IMF Opposes Indonesia’s Export Ban, Bahlil: Are They Dreaming?

IMF Opposes Indonesia’s Export Ban, Bahlil: Are They Dreaming?

Jakarta, Timerilis.com – The International Monetary Fund (IMF) through the IMF Executive Board Concludes 2023 Article IV Consultatiun document with Indonesia asks Indonesia to consider removing the nickel ore export ban policy.

Investment Minister / Investment Coordinating Board (BKPM) Bahlil Lahadalia opposed the recommendation from the IMF to remove the export ban policy.

Bahlil said the data from the IMF was not all correct, there were some that he said were different from the reality in Indonesia but, some were correct.

“Do we have to follow the IMF suggestion which I think is inappropriate. We heard some of it. Some of it is good but, we don’t agree,” Bahlil said, Jakarta, Friday (30/6/2023).

According to him, the IMF has double standards for Indonesia. At the same time other countries prohibit exports, such as America which prohibits the export of semi-conductors.

“They (America) banned the export of semi-conductors. But, why is our country being disturbed and in my opinion this concerns the dignity of the country, the sovereignty of the country and this has already made us a patient who failed the diagnosis,” said Bahlil.

The IMF supports the goal of downstreaming to encourage transformation and the creation of added value and employment. On the other hand, the IMF also opposes export ban policies that can cause losses in state revenue and have a negative impact on other countries.

“Write for the IMF, are they just dreaming?” said Bahlil.

According to Bahlil, data from the IMF shows that there are fears from certain groups when Indonesia has carried out good domestic hiliriation. This is because there are a number of parties whose raw materials are disrupted because Indonesia implements an export ban.

“Even if the sky is falling, hiliriation is still the country’s priority. Secondly, we will continue to do the export ban if we want to take us to the WTO,” he said. (Eva/Rd)