Turning the Last Page

In addition to facing a fast-approaching deadline, the loan asset sales at IBRA are being all but mobbed by bargain-seekers. Assets are being nibbled away at while targets are not being achieved.

August 12, 2003

LOTS of pieces of paper containing the list of thousands of loan assets were scattered all over his desk. Handi (not his real name) is the director of a securities company and he explained that these were the packet of loan assets to be sold off by the Indonesian Bank Restructuring Agency (IBRA) in its fourth such offer. In a low voice, he stated that he had obtained the list of the loan assets through a special channel, mentioning the name of

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