IBRA restructures bad loans

Sat, 11 Mar 2000, 00:00 WIB | Source: JP

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)

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