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IBRA

A Dismal Performance

Tuesday, May 1, 2001

The Indonesian Bank Restructuring Agency is moving too slowly to attain the target of Rp37 trillion in sales of assets under its control—a near impossibility in the present political situation.

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Crawling at a snail's pace. That would be an apt description of the way the Indonesian Bank Restructuring Agency (IBRA) is moving in disposing off assets under its control. During the first three months of this year, IBRA was able to deliver only Rp4 trillion to the finance ministry, including Rp1.5 trillion in February and Rp2.5 trillion in March. Not a single cent was handed over in January. No word, either, is heard about Rp10 trillion i

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