>X-POP3-Rcpt: eweick@ns >Return-Path: <[EMAIL PROTECTED]> >From: [EMAIL PROTECTED] >X-Sender: [EMAIL PROTECTED] (Unverified) >Date: Fri, 23 Jan 1998 18:52:16 -0800 >To: [EMAIL PROTECTED] >Subject: FYI > >Ed, My buddy Jack is part Indonesian and lives near us, when he's not >globtrotting as an environmental economist. he offers below-- > >BTW Heide and I are off to participate in a workshop with Robert T at >Malaspins on Sat. > >Jay > >X-From_: [EMAIL PROTECTED] Thu Jan 22 20:35:37 1998 >X-Sender: [EMAIL PROTECTED] >Mime-Version: 1.0 >Date: Thu, 22 Jan 1998 20:44:14 -0900 >To: Jay Mussell & Heide Brown <[EMAIL PROTECTED]> >From: Jack Ruitenbeek <[EMAIL PROTECTED]> >Subject: Fwd: YOUR EMAIL ON SITUATION HERE [Jakarta] > >Hi Jay, > >I've been asking some of my friends and colleagues about situation in >Jakarta and thought I'd pass this response on to you ... you may wish to >forward it to your in-laws. I've removed the name of the sender of the >message so feel free to circulate this. He lives in Jakarta. > >Jack >>X-From_: [EMAIL PROTECTED] Thu Jan 22 18:53:54 1998 >>Date: Fri, 23 Jan 1998 02:53:33 GMT >>Mime-Version: 1.0 >>To: [EMAIL PROTECTED] >>From: "KW" >>Subject: YOUR EMAIL ON SITUATION HERE >> >>My response was a bit sarcastic but here are few tidbits. >> >>The Rupiah continues to fall dramatically, hitting 15,000 in Singapore >>yesterday and closed in Jakarta around 12,000. Likely 2 million have lost >>jobs in Jakarta since December. For the whole country, anyones guess. >> >>There are actual loan defaults among the private sector beginning to be >>publicized. None of the real big companies yet, but technically all the >>majors here are insolvent. There will have to be a major agreement between >>international lenders and big borrowers here on write down or renegotiation >>of terms. That is probably going on in the back rooms this week but being >>kept quiet for now. The IMF package did not address the private sector >>aspect of the debt crisis at all and that is what appears driving the >>situation downwards further. >> >>Suharto announced he will run for Pres and now is the question of VP. >>However, this am MPR announced a name will not be announced until mid Feb at >>the earliest and most likely Mar 1 when they convene to elect the Pres. The >>mere talk of Habbie as VP drives down the markets. He is considered a major >>loose cannon by the international finance community. There are also public >>calls for Suharto to step aside in the press and some local small >>demonstrations. >> >>Prices are rising very fast, but that is also compounded by Ramadan when >>they always rise. Next month direction in prices will be interesting. Alot >>of vendors are being downright greedy and that most are Chinese doesn't help >>their case as being the targets of attacks. >> >>April 1 is when they will raise the price of fuel. I feel that will >>catalyze the social unrest as it typically has in all Asian countries where >>fuel prices have increased. >> >>Social Unrest: there have been isolated incidents re food shortages. This >>usually occurs in other cities such as Medan, Surabaya. Jakarta has been >>quiet. >> >>There are alot to expats leaving Indonesia, not from fear, but from being >>let go. Most Indonesian firms, across the Board, with expats, cannot affort >>them. Last count I had was on the order of 200 departing next week. >> >>WHAT DO I THINK: we are playing it conservative and reasonably cautious and >>are setting up contingencies if something does occur. On our projects we >>are not mobilizing on longterm positions that involve family moving over >>here for protracted periods until after April 1. Other than this we are >>pursuing business reasonably agressively albeit very selectively. >> >>Based on this, I am here with my family and feel safe but I am in a bit of a >>different situation re career commitment. But if I was considering a family >>holiday, Indonesia wouldn't be one of my prime candidates given the >>unpredictability of the situation for the time being and April will be an >>interesting month with the fuel increases. However, to work here, knowing >>your assignment, no problem. All the IFI projects are proceeding. I can >>certainly keep you posted over the next couple of weeks. >> >>Rgds > >We vote with every dollar we spend. > >Heide Brown and Jay Mussell >Martin Park Communications >RR2, S27, C35 >Gabriola, B.C. >V0R 1X0 >1-250-247-8144 >[EMAIL PROTECTED] ><http://www.island.net/~brownjay/index.htm> > > >
