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View all search resultsGovt settles remaining BLBI-related debt from 1998 crisis
The government has fully settled its remaining debt related to the Bank Indonesia Liquidity Assistance (BLBI) program issued during the 1997-1998 financial crisis, using Rp 55 trillion in Bank Indonesia surplus funds.
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Finance Minister Suahasil Nazara speaks at the APBN Kita press conference on Sept. 19 in Jakarta. (Government Communication Agency/- )
T
he government has fully settled its outstanding debt related to the Bank Indonesia Liquidity Assistance (BLBI) program issued during the 1997-1998 Asian financial crisis, Finance Minister Suahasil Nazara said.
The settlement was completed in August 2026 using Rp 55 trillion in surplus funds from Bank Indonesia (BI), bringing an end to the government’s remaining securities issued as part of its response to the crisis, Suahasil said at a press conference on the state budget (APBN KiTA) at the Finance Ministry on Friday.
Suahasil said the government had issued various types of bonds totaling around Rp 640 trillion at the time to address the financial crisis.
“The government issued total bonds reaching Rp 640 trillion at that time, and we have been paying them back. Some of the types of bonds issued at the time were already paid off in July 2020, while some were paid off recently,” Suahasil said.
The obligations had different repayment schedules. Recapitalization bonds were fully settled in July 2020, while the remaining securities related to BLBI were settled in August 2026.
Suahasil said the latest settlement used BI’s Rp 55 trillion surplus funds based on the central bank’s audited 2025 financial statements.
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