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Sunday, February 12, 2006

Ministry of Finance Ready to Accommodate Return of BLBI Funds

Jakarta (ANTARA News) - Minister of Finance Sri Mulyani Indrawati has said that her office is ready to accommodate the return of Bank Indonesia Liquidity Support (BLBI) funds, but the office is now still arranging a mechanism of this purpose."Later at the ministry of finance," she told reporters when asked whether a special bank account will be provided for payment of the debts.

Coordinating Minister of Economy Affairs Boediono, National Police chief Gen Sutanto and Attorney General Abdurrahman Saleh also attended the meeting.On Monday, three debtors James Januar, Ulung Bursa and Omar Putirai came to the presidential office to express readiness to return the BLBI funds amounting to Rp170 billion.

According to National Police chief, Gen. Sutanto, they came to the state palace to follow the steps of Bank Bira`s commissioner Atang Latief who has earlier expressed readiness to return the BLBI funds to the government.

The government provided BLBI funds totaling Rp144.5 trillion from August 1998 to early 1999 to assist 48 ailing private banks. However, in May 1999, a Supreme Audit Agency report revealed that 95 percent of the troubled banks had misappropriated the funds.

The debtors who have surrendered themselves may not have to undergo a legal process, because according to law enforcers there is no indication they have violated the law although they have yet to secure a document stating they had paid their debts (SKL). Based on reports, the Police Chief said, the debtors actually wanted to return their debts through the Indonesian Bank Restructuring Agency (IBRA) which was already liquidated.


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