Fate of Whoosh Debt Restructuring Lies in Hands of Finance Minister

Jakarta, CNBC Indonesia - Minister of Investment and Downstreaming and Head of the Investment Management Agency (BPI) Danantara Rosan P. Roeslani stated that the debt restructuring for the Whoosh high-speed rail project by PT Kereta Cepat Indonesia China (KCIC) will be managed by the Ministry of Finance.

“Yes [under the Ministry of Finance], that’s right, that’s right,” said Rosan when met in Central Jakarta on Tuesday (28/4/2026).

According to Rosan, the Whoosh debt restructuring has been approved by the Coordinating Minister for Infrastructure and Regional Development (Menko IPK) Agus Harimurti Yudhoyono (AHY). The announcement will be made in May.

Finance Minister Purbaya Sadewa has also confirmed that the restructuring process for the Whoosh high-speed rail project has been completed and will soon be announced.

“It’s done, just waiting to be announced,” said Purbaya to the media.

Purbaya further emphasised to the Chinese Finance Minister that the restructuring is complete, so there is no need to worry.

“I told the Chinese Finance Minister that it’s been decided, just waiting to be announced, so the Chinese side doesn’t need to worry,” said Purbaya.

Purbaya declined to provide more details on the restructuring outcome, including when asked by reporters about the fate of PT Kereta Cepat Indonesia China (KCIC).

“It will be announced later, after it’s announced by Mr AHY. I think I don’t have the right to announce it now,” he said when asked by journalists whether KCIC would come under the Ministry of Finance.