Prominent foreign advisers to Indonesia's embattled president, including ex-Fed chairman Paul Volcker, urged him to stick with the IMF and to drop current proposals to revamp the central bank law which have become a nasty thorn in relations with the Fund. The International Monetary Fund has held up fresh loans since Dec 2000 until Indonesia moves ahead with a series of reforms and puts plans to change the central bank law on hold.

In a letter to Abdurrahman Wahid made public on Feb 20, 2001, the