Central Banking

IMF concerns over Indonesia's slow pace of reform

The Indonesian rupiah ended lower in Asian trade Wednesday on news that the International Monetary Fund has set a December deadline for Jakarta to show it's serious about economic reform.

In a tersely worded letter dated 8 November and obtained by the Far Eastern Economic Review, Anoop Singh, the Fund's Washington-based deputy director for Asia and the Pacific, demanded that Jakarta move decisively to minimise risks in its fiscal decentralisation plan, use higher oil revenues to repay governme