Whose Debts, Whose Threats?
Tuesday, April 1, 2003
APP's creditors are furious with IBRA, but are also threatening President Megawati. Should they be heeded?
arsip tempo : 173210959272.
SINCE Asia Pulp & Paper (APP) announced its delay in settling its debts of US$13.9 billion on March 12, creditors from 11 foreign countries have put the debt restructuring process under a microscope. The Indonesian Bank Restructuring Agency (IBRA) is conducting restructuring efforts in its capacity as the representative of the government which has taken over APP's US$1 billion non-performing loan from Bank Internasional Indonesia (BII). I
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