Wednesday, 26 November 2008
Questions without Notice
Indonesia: Budgetary Support
I thank you for the call, Mr Speaker, to question the Treasurer and to seek information which will be of interest to honourable members. I refer the Treasurer to reports that the government is considering a request from Indonesia for emergency budgetary support of more than $3 billion. I ask the Treasurer to advise whether this support would be in the form of a loan or grant and whether any conditions will be attached to it.
I thank the member for his question. It is a very important question. It is the case that the Indonesians have approached a number of international organisations, including the World Bank, and also have approached the Australian government for some assistance at a time which is very testing for many emerging economies. This is part of what we have been talking about in this parliament over the last month or so—the spread of the global financial crisis around the world from developed countries to developing countries. As has been the case in the past—I think back in 1998—the Indonesians have sought some assistance from Australia in conjunction with multilateral organisations. That request is currently before the Australian government. It is receiving our thorough consideration, and if a decision is taken it will be reported in a transparent way to the Australian parliament.