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EX-IM BANK CHAIRMAN, INDONESIAN PRESIDENT EXCHANGE VIEWS ON TRADE AND INVESTMENT CLIMATE

Chairman James Harmon Says Economic Reforms Can Promote Re-Investment

FOR IMMEDIATE RELEASE November 11, 1999

Media Contact Name/Phone: 

Ken Murphy (202) 565-3200

Washington, D.C. -- Export-Import Bank of the United States Chairman James A. Harmon encouraged Indonesian President Kiai Haji Abdurrahman Wahid to focus his efforts on tackling difficult economic reform issues, including questions of corruption, as a way of improving the economic climate of his country and promoting a return of capital investment. Harmon and President Wahid talked at a private meeting on Friday, November 12, 1999.

During the past two years, the global economic crisis has clearly demonstrated that countries with fair and predictable laws, and stable governments have the ability to maintain or attract capital investment, Harmon said. I encourage President Wahid to make every effort to end corruption, and to promote transparency in Indonesia. Making significant progress in the areas of corporate restructuring and the rule of law should lead to greater trade and capital reinvestment in this important market.

Harmon is planning a trip to Indonesia in the coming months. Ex-Im Bank and Indonesia have been business partners for nearly 50 years.

Ex-Im Bank, an independent federal government agency, that supports the sale of US exports to emerging markets through loans, guarantees, insurance, and project-finance programs. Worldwide in fiscal year 1999, Ex-Im Bank supported nearly $16.7 billion in US exports.