Ex-FM heads debt task force

JAKARTA (JP): Coordinating Minister for Economy, Finance and Industry Kwik Kian Gie said on Tuesday the government had appointed former Finance Minister Bambang Subianto as the new Chairman of the Jakarta Initiative Task Force.

"President Abdurrahman Wahid has told me about the appointment, and I myself have conveyed such news to Bambang (Subianto)," Kwik told journalists.

Bambang Subianto would soon officially replace the outgoing chairman Jusuf Anwar.

Jusuf, also chairman of the Capital Market Supervisory Agency (Bapepam), recently announced his resignation from the two positions.

The government launched the Jakarta Initiative Task Force in September 1998 to encourage debtors and creditors to reach out-of-court debt settlements, but in its development the task force was painfully slow in reaching debt restructuring deals. (udi)