IBRA TO SELL RESTRUCTURED CREDITS VALUED AT RP16.3 TRILLION.(Indonesian Bank Restructuring Agency)(Brief Article)

Indonesian Commercial Newsletter, September, 2001

The Indonesian Bank Restructuring Agency (IBRA0 said it plans to sell restructured credits valued at Rp16,307 billion in mid October, 2001. The plan is part of the points in the letter of intent signed by the government and the International Monetary Fund (IMF). The Asset Management Credit (AMC) of IBRA is charged with the duty of restructuring Rp270 trillion of non performing credits.

IBRA has asked a number of state banks to help restructuring the credits. Until August, IBRA has restructured around Rp68.5 trillion of non performing credits including Rp 16,3017 trillion to be sold under the recommendation of the IMF.