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Jakarta Post

Golkar backs down on demand for impeachment

  • The Jakarta Post

Jakarta   /   Wed, April 28 2010   /  10:19 am

The House of Representatives officiated on Tuesday a supervisory team to make sure the Rp 6.76 trillion (US$716 million) Bank Century bailout case faces due legal process.After weeks of fierce debate and repeated delays, the team’s inauguration effectively slows down the Golkar Party’s move to impeach Vice President Boediono.Boediono, the former governor of  Bank Indonesia, approved the Century bailout with then Financial Sector Policy Committee (KKSK) chairwoman/Finance Minister Sri Mulyani Indrawati in 2008.   The formation of the 30-member team is a follow-up on the recent legislative inquiry into the bailout, which concluded that the costly rescue of the ailing bank was unjustified. Bank Century was renamed Bank Permata (not Bank Mutiara as erroneously mentioned in this paper on Tuesday) after being taken over by the government following the controversial bailout.D...