Debt Settlement Agreed

A new formula has been devised for the settlement of Chandra Asri’s debts. Following a protracted tug-of-war, Japan’s Marubeni-led consortium of creditors has finally accepted the pattern of payment offered by the Committee on Financial Sector Policy (KKSK). This is a breakthrough as the Indonesian Bank Restructuring Agency (IBRA) was previously unable to reach an agreement on the settlement of the US$630 milli