TOKYO. Nov 10: South Korea and Thailand are over the worst of the Asian economic crisis, but grinding poverty still stands in the way of recovery in Indonesia, the president of the World Bank said Tuesday, reports AP.

"We've come a long way in Korea and Thailand in building the economic and financial base ... to try to stabilise the economic situation.'' James Wolfensohn told reporters in Tokyo.

The two countries have largely overcome the "worst excesses" of problems of interest rates, foreign reserves and lack of credit, he said.

Indonesia, however, is making slower progress, in part because it waspoorer than South Korea and Thailand before the

Asian financial crisis hit last year. Wolfensohn said.

For example. 60 million Indonesians are surviving on just two dollars a day. while another 15 million scrape by on a daily budget of one dollar or less, he said? Private debt to foreign creditors also totals 60 billion dollars.

It's quite hard with that background to make an immediate Jump forward." he said.

Despite those problems Wolfensohn said the monetary and financial situations In Indonesia are "being brought into a better alignment '

Wolfensohn. scheduled to go to Russia on Thursday, was in Japan for talks with government officials on approaches to the expanding global economic slowdown. On Monday he met

with Prime Minister Keizo Obuchi and Foreign Minister Masahiko Komura.

The World Bank chief and Komura agreed that a comprehensive strategy is needed to assist developing nations on social and structural reforms for longer-term stability, a Foreign Ministry officials said.

On Tuesday. Wolfensohn said that while the macroeconomic indicators of crisis-hit countries have received the most attention, the bank is intent on focusing on underlying structural problems.

He listed World Bank goals In many developing countries as instituting transparent financial and justice systems and improving education, health and rural infrastructure.