The Photograph Symbolized Soeharto’s Fall

In 1998, Indonesia experienced a financial crisis that caused the rupiah exchange rate against the dollar reached Rp.17.000 per $ 1. At that time, Indonesia was led by President Soeharto, who has served for 31 years. In that year, Indonesia signed an agreement with the IMF (International Monetary Fund) on January 15, 1998 at Rumah Cendana (the house of Soeharto Family) signed by Soeharto in front of Michel Camdessus, IMF managing director. On that day, the IMF boss, Michel Camdessus witnessed the moment of signing it, crossing his arms over his chest. While Soeharto bowed to sign a Letter of Intent (LoI). The IMF boss looks smug as shown in the photograph published in the national and international media. History records the incident as "Soeharto is subject to the IMF, one of the pillars of global capitalism". I choose this photo as the object to be analyze because this photo content several hidden meaning.

According to Pierce based on Journal Analyzing Oreo Advertisement, sign is something which is tends to somebody or something in some respect or capacity. Based on the object, Pierce separated a sign into three categorized. There are Icon, Index, and Symbol. Icon is the connection between sign and object, because of its similarities. For example, picture and map. Index is the connection between sign and object, because of cause and effect. For example, smokes caused by a fire. Symbol is a connection between sign and object because of the agreement or convention in societies. For example is a traffic light. The photo is proper to analyze with Pierce’s theory. I am going to spell out the hidden meaning on the photo above based on Pierce’s theory.

Based on the picture above, there are two icons. They are Soeharto and Michel Camdessus. Soeharto known as the second President of Indonesia who led Indonesia 31 years, he also known as Bapak Pembangunan (Development Father), and he is a former generals in Indonesia National Army. Michel Camdessus is French applied economist and administrator who was Managing Director of the International Monetary Fund (IMF) from January 16, 1987 to February 14, 2000. To date, he is the longest serving Managing Director of the IMF (according www.imf.org). They both have the same power in their own organizations. Soeharto is the longest president who led Indonesia, and Michel Camdessus is a man who has the power in IMF at that time. That picture also has an index. From the picture above, President Soeharto signed a Letter of Intent (LoI) because Indonesia needed loans from IMF. Consequently Indonesia must obey the terms given by IMF. The effect of that contract also Indonesia had to pay a debt of $ 43 billion to IMF.

Indirectly, Indonesia has been bow to IMF. Based on the picture, there are two symbols to analyze. The first is Michel Camdessus witnessed the moment of signing LoI, crossing his arms over his chest while looked at Soeharto. He looks smug as shown in the photograph. According to Joe Navaro on What Everybody is Saying, the crossed arms pose to make themselves look bigger, or we can say it is a smug or arrogant pose. The second is Soeharto bowed to sign a Letter of Intent (LoI). Media called it as "Soeharto is subject to the IMF, one of the pillars of global capitalism". The bow pose means obedience. That is why many people and media assume that Soeharto is subject to IMF or global capitalism. He looked like helpless, and must to obey the IMF.

In conclusion, from the image above we can know that there is a hidden meaning there based on the theory of semiotics of Pierce and from personal assumptions and facts about the image above. From the analysis based on the theory, this photograph can be assumed that the submission of Soeharto to the IMF is described by Michel Camdessus crossed his arms while Soeharto bowed to sign a Letter of Intent (LoI). That was the point where Soeharto will fall. Plus the facts according to Washington Post who found a letter of Michel Camdessus to Soeharto that Michel Camdessus threatened to suspend loans to Indonesia, and he admitted that the IMF is also the mastermind behind the fall of Soeharto.