IMF Asks Indonesia to Cancel Raw Mineral Export Ban

By Editorial Team 28/06/2023
Nikel
Summary

International Monetary Fund (IMF) acknowledged that Indonesia has been diversifying its mining strategy by initiating downstream activities for its raw commodities, such as nickel.

IMF welcomed Indonesia's ambitions to increase value added in exports, luring foreign direct investment, and facilitate the transfer of skills and technology.

The IMF Executive Board said policies should be flanked by comprehensive cost-benefit analysis and designed to minimize cross-border spillovers.

"In that context, directors called for considering phasing out export restrictions and not extending the restrictions to other commodities," said the Executive Board of IMF in the Article IV consultation with Indonesia on May 22 that was released on Jun 25 on their website.

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