Denmark to reschedule RI debts

Denmark to reschedule RI debts

JAKARTA: Indonesia and Denmark are scheduled to sign an
agreement on Wednesday that would allow the rescheduling of the
former's US$30.8 million debt, scheduled to mature between April
2002 and December 2003.

A media release said on Tuesday that the amount to be
rescheduled comprised $2.8 million in soft loans and $28 million
in commercial credits.

The debt rescheduling agreement was a follow-up action from
what had been agreed to by the two countries during the third
Paris Club meeting in April last year. The Paris Club groups
together the country's major sovereign creditors.

"The agreements are very indicative of Denmark's continued
strong support of Indonesia's democracy and political and
economic reform that are under way," Danish Ambassador to
Indonesia Geert A. Andersen, said in the release.

Andersen and director general for state budget at the Ministry
of Finance Anshari Ritonga are expected to sign the agreement. --
JP