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Government to Receive Moratorium from Paris Club
Monday, 14 March, 2005 | 19:57 WIB

TEMPO Interactive, Jakarta:The government is to receive a moratorium offer for foreign debt from the creditor countries that are members of the Paris Club.
The total of foreign debt on which repayment is to be delayed amounts to US$2.6 billion.

“Because this is a special situation, due to the tsunami, there are no IMF conditions or comparability basis against private sector debt. Therefore, we will accept the offer of a moratorium,” said State Minister for Development Planning Sri Mulyani Indrawati, concurrently Head of the National Development Planning Board (Bappenas), at the House of Representatives (DPR) in Jakarta on Monday (14/3).
She went on to say that the government is currently estimating what effect the one year delay in the debt repayment will have.
Repayment will now be over five years as from 2006.
According to Sri Mulyani, because the amount of debt repayment being delayed is large and as there is no allowance for the reconstruction of Aceh’s development in the 2005 State Budget, allocation will be discussed later when the revision to the budget are made.

Bagja Hidayat