Jakarta – Indonesia's Finance Minister has accused the International Monetary Fund (IMF) and the World Bank of interfering in the country's programme of economic reforms.

Mr Bambang Sudibyo told reporters "the World Bank and the IMF are too interventionist in the implementation of the letter of intent". The IMF and the World Bank had to share the blame for the delays in implementing the measures in the letter of intent agreed with the IMF in return for fresh loans, he said. "The delay in implementation of the letter of intent was partly because the IMF and World Bank have intervened a lot," he said.

In another development, State Enterprises Minister Laksamana Sukardi said yesterday that IMF deadlines had been met. Mr Laksamana told reporters Indonesia had met all deadlines related to corporate debt and he expected as much as US$10 billion in debt would be restructured this year. "All items listed in the letter of intent with the IMF with the Jakarta Initiative were met," he said.

The Jakarta Initiative is the body charged with helping to restructure Indonesia's private-sector debt. The measures include the promise to restructure US$10 billion in debt this year.

In January, the country signed a new letter of intent with the IMF, setting conditions for a new US$5-billion, three-year loan. The IMF last week delayed disbursement of a US$400-million loan because it said the government had not done enough to push companies to reschedule US$81 billion of debt.

It set today as the deadline for Indonesia to continue to win international aid to rescue its ravaged economy. Mr Laksamana's announcement comes ahead of next week's meeting of the Paris Club of official creditors whom Indonesia wants to reschedule some US$2.1 billion in debt.