President Has Not Cleared State Funds for Whoosh Debt Repayment, Purbaya Says

Jakarta. Finance Minister Purbaya Yudhi Sadewa said on Wednesday that President Prabowo Subianto has not approved the use of state funds to fully repay debt tied to the Whoosh high-speed rail project, pushing back against recent speculation.

Purbaya said the government has yet to make a final decision on how to settle roughly $7 billion in outstanding loans owed to Chinese creditors for the Jakarta–Bandung rail line.

Earlier this month, State Secretary Prasetyo Hadi signalled that the debt could be covered entirely by the state budget.

“I’m still waiting for guidance, and so far there has been no specific instruction from the President,” Purbaya told reporters at parliament.

He added that the idea of using state funds originated from Danantara Chief Executive Officer Rosan Roeslani, and does not yet reflect an official government position.

“If there were presidential instructions, I would act immediately — but there have been none so far,” Purbaya said. “As far as I recall, the plan is still fifty-fifty. I will discuss it again.”

Danantara Chief Operating Officer Dony Oskaria said last week that the Whoosh high-speed rail service is already capable of sustaining itself operationally.

“The project also generates economic impact. Operationally, it can sustain itself. The issue is that our initial equity investment was too small, which forced heavy borrowing during construction,” Dony said.

The Whoosh rail line — Indonesia’s first high-speed railway — connects Jakarta and Bandung and began commercial operations in late 2023.