RI seeks to reschedule around $5.5b debt<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Finance Minister Boediono said that the government was seeking to
\nreschedule some US$5.5 billion in sovereign debt maturing this
\nyear and next from the Paris Club of creditor nations.<\/p>\n
\"The amount is around $5.5 billion -- and I'm very
\noptimistic,\" he was quoted by Antara as saying on Monday.<\/p>\n
Boediono has just been returned from a week-long overseas trip
\nto lobby creditor nations to grant Indonesia with a debt
\nrescheduling facility to help ease pressure on the state budget.<\/p>\n
The government, which is scheduled to convene with the Paris
\nClub members from April 8 to April 11, is not only seeking for
\nthe rescheduling of debt principal, but also interest rate.<\/p>\n
For this year alone, some Rp 27 trillion (about $2.7 billion)
\nin principal and interest will have to be rescheduled to help
\nmaintain the 2002 state budget deficit at a safe level of around
\n2.5 percent of the country's gross domestic product (GDP).<\/p>\n
Indonesia has around $140 million in overseas debts, of which
\naround half is government debt.<\/p>\n
On Monday, the House of Representatives approved the country's
\nfirst anti-money laundering bill into law, which has been a
\nrequirement demanded by creditor nations.<\/p>\n
Boediono's overseas trip included a visit to Washington, which
\nhas been putting a strong pressure on the Indonesian government
\nto do more in the U.S.-led war against terrorism.<\/p>\n
Central bank officials have said that if Indonesia wants to
\nobtain a favorable debt rescheduling facility from the Paris
\nClub, the government must prove to the U.S. government, an
\ninfluential creditor at the Paris Club, that it is serious about
\ncombating terrorism.<\/p>\n
There have been accusations that religious militant groups,
\nlinked to the Sept. 11 terrorist attacks in the U.S., have been
\nat large and operating in Indonesia.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-seeks-to-reschedule-around-55b-debt-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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