Purbaya Admits Whoosh Debt Restructuring is Slow, Here's Why!

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa stated that the debt restructuring process for the Whoosh high-speed rail project has been completed. The Ministry of Finance and BPI Danantara still need to carry out further administrative processes.

“So Danantara is sending a letter to us, then we will respond so that it can be processed administratively correctly. But the decision is already done, just needs tidying up,” said Purbaya on Monday (11/5/2026).

Regarding the announcement, Purbaya said it would be done soon. He admitted being puzzled by the slow process. Purbaya denied that his side was causing the delay in the restructuring.

“It’s not my fault, right? Danantara is also slow. But it won’t be quick; the decision has been over a month already. I’m also puzzled why the process is slow,” he said.

He acknowledged that the administration is indeed slow. Nevertheless, Purbaya assured that the decision is complete.

“Yes, that’s true, the administration is sluggish. But the decision is done. We’ve cleared it with Danantara; we’re just ensuring no legal processes are missed so we don’t run into trouble,” he explained.

Previously, Purbaya had informed China’s Finance Minister that the restructuring is complete, so there is no need to worry.

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

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

“It will be announced later, after the announcement 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.