Which of the following was a condition imposed on Indonesia by the IMF in return for the $37 billion rescue deal in 1997?
A)Opening of banks that were shut down
B)Removing government subsidies on basic foodstuffs and energy
C)Increasing government spending
D)Lowering the interest rates

Question

Quizplus · Accepted Answer

On October 31,1997,the IMF announced it had assembled a $37 billion rescue deal for Indonesia in conjunction with the World Bank and the Asian Development Bank.In return,the Indonesian government agreed to close a number of troubled banks,reduce public spending,remove government subsidies on basic foodstuffs and energy,balance the budget,and unravel the crony capitalism that was so widespread in Indonesia.

Which of the Following Was a Condition Imposed on Indonesia