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[Ferro-Alloys.com]
The IMF will discuss nickel export ban with Indonesia and urge to reconsider cost and benefit analysis
Luhut Binsar Pandjaitan, Coordinating Minister of Maritime and Investment, is set to hold discussions with the International Monetary Fund (IMF) regarding the IMF’s request for Indonesia to reconsider its ban on nickel exports.
IMF highlighted the need for Indonesia to gradually phase out the policy prohibiting nickel exports. In response, Minister Luhut is scheduled to meet with IMF Managing Director Kristalina Georgiva either in late July or early August.
“Minister Luhut will be travelling to the United States and plans to meet with the IMF Managing Director to elaborate on our vision in greater detail,” stated Jodi Mahardi, spokesperson for the Coordinating Minister.
The IMF’s acknowledges Indonesia’s focus on downstream processing across various raw commodities, including nickel, as it aligns with Indonesia’s objective of generating value-added exports. Regarding policy formation, the IMF advises conducting thorough cost and benefit analysis and minimizing any adverse effects on other regions.
“Our intention is not to unilaterally dominate all downstream processes. The initial stages will be conducted in Indonesia, subsequent stages can be implemented in other countries, promoting mutual support for their respective industries in the spirit of beneficial global cooperation,” Mahardi added.
“In this context, the directors recommend considering a phased removal of export restrictions and refraining from extending such limitations to other commodities,” stated the IMF document.
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- [Editor:邢亚敏]
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