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Jakarta Post

BLBI debtors finally agree to relinquish more assets

  • Aditya Suharmoko

    The Jakarta Post

Jakarta   /   Thu, January 29 2009   /  01:54 pm

After more than 10 years of dispute over the recovery of central bank bailout funds, several recalcitrant debtors have agreed to cooperate. As a result of progress after enquiries last year by the House of Representatives into the settlement of squandered Bank Indonesia liquidity support (BLBI) funds worth Rp 702 trillion (US$ 62.1 billion) of taxpayers money, the Finance Ministry disclosed Wednesday that eight debtors have agreed to relinquish more assets to settle the dispute. After a hearing with the House's BLBI supervisory team, Finance Minister Sri Mulyani Indrawati said eight debtors supervized by the ministry have signed a deal to settle their debts once and for all. "They have inked the debt settlement deal. We are now valuing their assets. If the value is still lacking, they have to top up to cover the shortfall," she said. According ...