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Only 180 companies have reported debt

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AFX-ASIA - March 31, 1998

Jakarta – Only 180 of 800 Indonesian companies have responded to official requests for detailed information on their debts, State Enterprises Minister Tanri Abeng was quoted by the Jakarta Post as saying..

Disclosure of such information would now be a "compulsory requirement" as the country tries to restructure the private sector's massive foreign debt, Abeng said.

Private-sector foreign debt was estimated at 73 bln usd at the end of last year.

Abeng said more information is necessary during continuing talks with the International Monetary Fund on ways of rescheduling the overseas debt that has crippled the country's ecomony.

He said Indonesia has formulated a plan in its talks with the IMF but declined to confirm whether it would be modelled on a Mexico-style solution used in 1983.

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