Indonesia aims to recoup nearly US$8bil of Asian financial crisis debt


JAKARTA, June 8 (Reuters): Indonesia has formed a task force that includes law enforcement officials to go after nearly US$8 billion of unrepaid state funds handed out to bank owners during the Asian financial crisis in the late 1990s, ministers have announced.

The government provided billions of dollars of financial support to troubled banks during the crisis to keep them afloat as South-East Asia's largest economy slumped amid riots that helped topple late strongman president Suharto.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Indonesia , Govt , Task Force , Recoup , Loans , US$8 Billion

   

Next In Aseanplus News

Indonesian manufacturing sector remains expansive amid global slowdown, says minister
Thai police seize one tonne of crystal meth worth RM118mil
Car fells off bridge - One dead and five injured in major road crash in Philippines
Vietnam's Hai Phong kicks off Red Flamboyant Festival, marks UNESCO recognition
Motorcycling-Martin wins French GP after intense battle with Bagnaia, Marquez steals second
Two taken to hospital after eight-vehicle chain collision on Singapore's AYE
Death toll in Indonesia floods, landslides now rising to 34; another 16 reported missing
Indonesia’s Prabowo reiterates ‘Asian Way’ to defuse regional tension
PM Srettha: Thailand to tighten border control amid Myanmar conflict
Singapore and Philippines upgrade weekly code-share flights with new MOU

Others Also Read