IBRA restructures bad loans

JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) is in the final stages of completing the restructuring of some Rp 14.4 trillion (about US$1.8 billion) worth of bad bank loans under its control.

IBRA said in a statement that the debts were owed by 144 debtors.

"As many as 144 debtors with combined debts of Rp 14.4 trillion have reached the final stage of restructuring and some have even settled their obligations," the agency.

"Up to March 8, 2000, the total collection was Rp 5.5 trillion and has exceeded the target."

IBRA currently controls some Rp 217 trillion in bank loans owed by 144,500 debtors. The loans were transferred by closed down banks, nationalized banks and recapitalized banks. (rei)