Finance Minister Confirms Completion of Whoosh High-Speed Train Debt Restructuring Discussions

Finance Minister Purbaya Yudhi Sadewa has stated that discussions regarding debt restructuring for the Indonesia-China High-Speed Train (Whoosh/KCIC) project have been completed. The Indonesian government has made a decision on the steps for resolving the project’s outstanding debt moving forward.

However, Sadewa said the decision would be announced by President Prabowo Subianto or other relevant officials, as he was unwilling to disclose the debt restructuring details to the public himself.

“The meeting has concluded, but it will be up to the President or the official government to announce it, not me. But it’s already clear what the next steps will be,” Sadewa stated when approached at the Finance Ministry office in Central Jakarta on Friday, 13 March 2026.

The statement responded to Infrastructure and Regional Development Coordinating Minister Agus Harimurti Yudhoyono (AHY), who stated on Wednesday, 11 March 2026 at the Bina Graha building in Central Jakarta that the Whoosh project’s extension to Surabaya would be pursued in parallel with PT KCIC’s financial restructuring.

Yudhoyono said he had held meetings with the Finance Ministry and Danantara Indonesia regarding plans for Whoosh to operate as far as Surabaya and even Banyuwangi in East Java. He explained that whilst developing the Whoosh extension project, the government is also ensuring that KCIC’s financial restructuring continues to progress.