World Bank Group Timeline
Indonesia withdraws from World Bank membership
Indonesia withdraws from the World Bank after more than a decade of membership in the institution during which time the Bank made no loans to the country. Consideration of Bank lending had been suspended on account of the ongoing dispute between Indonesia and the Netherlands over outstanding debts related to the two countries' "Financial and Economic Agreement" of December 30, 1949, and the nationalization of many Dutch enterprises in December 1957.
Resource Gallery
Memorandum regarding dispute between Indonesia and the Netherlands
Oct. 2, 1961
The memorandum outlines the political and financial issues that are at the core of the two countries' dispute (1786878).
Memorandum describing recent economic developments in Indonesia
Feb. 25, 1964
The memorandum offers a short summary of economic developments in Indonesia including analysis of the effect of it severing economic relations with Malaysia (1786878).
Press release -- Indonesia withdraws from membership
Aug. 17, 1965
The short, four sentence press release does not elaborate on the country's withdrawal (1786878).
Briefing paper for President Woods on Indonesia
Aug. 13, 1964
The briefing paper describes the lack of communication between the Bank Group and Indonesia and provides economic and political updates on the country (1076800).
