Purbaya Complains About Slow Whoosh Restructuring Process, Is There a Role for Danantara?

Finance Minister Purbaya Yudhi Sadewa has complained about the slow progress in restructuring the financing for the Whoosh high-speed rail project. According to him, the restructuring decision was actually finalised more than a month ago, but the administrative process has yet to be completed. “The decision is done; it just needs tidying up,” Purbaya said during a media briefing at the Ministry of Finance in Jakarta on Monday (11/5/2026). He explained that Danantara Indonesia is currently sending a letter to the Ministry of Finance as part of the administrative process. Once the letter is received, the government will respond to allow the restructuring to be officially processed. “Danantara is sending a letter to us, and then we’ll reply so it can be properly processed administratively,” he stated. Purbaya acknowledged that the restructuring process is proceeding more slowly than expected. According to him, the delay is primarily in completing the inter-agency administration. “Danantara is also slow. I’m also puzzled why the process is taking so long,” Purbaya said. When asked if the main obstacle lies in the administrative side, Purbaya confirmed it. “Yes, that’s right; the administration is sluggish,” he replied. Nevertheless, Purbaya stressed that the government remains careful to ensure the entire restructuring process does not lead to legal problems in the future. Therefore, the administrative completion is being carried out in accordance with applicable procedures. “We’ve already cleared it with Danantara, but we’re guarding against any overlooked legal processes that could cause us trouble later,” Purbaya said. Previously, the CEO of Danantara Indonesia, who is also the Minister of Investment and Downstreaming/Head of BKPM, Rosan Roeslani, stated that the solution for restructuring the Whoosh project debt has essentially been agreed upon by the government. According to him, the restructuring discussions have been conducted with the Coordinating Minister for Infrastructure and Regional Development, Agus Harimurti Yudhoyono, and the Ministry of Finance. Rosan noted that the government is just finalising the end scheme before officially announcing it to the public. The government is also continuing communications with the Chinese side regarding the restructuring.