The World Bank receives written notification from the Government of Indonesia of its decision to withdraw from the IBRD. In its more than decade-long membership in the Bank, Indonesia had not received any loans from the institution.
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.
The short, four sentence press release does not elaborate on the country's withdrawal (1786878).
The briefing paper describes the lack of communication between the Bank Group and Indonesia and provides economic and political updates on the country (1076800).
The memorandum outlines the political and financial issues that are at the core of the two countries' dispute (1786878).
The memorandum offers a short summary of economic developments in Indonesia including analysis of the effect of it severing economic relations with Malaysia (1786878).