Scaling Down Guaranteed Savings

THE task of guaranteeing customers deposits changed hands yet again last week. The Government Guarantee Program Implementation Unit (UP3) of the Finance Department, who inherited it from the Indonesian Bank Restructuring Agency at the end of February 2004, has officially been retired. The Savings Guarantee Agency (LPS) now bears that responsibility.

The ceremony to mark LPSs commencement was initially planned for the same day, but it had to be pos

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