Ex-FM heads debt task force

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)