Indonesia Foreign Debt to Italy Potential to Reduced by Rp 300 billion
JAKARTA - Indonesian foreign debts to Italy potentially reduced to USD 24 million and EUR 5.7 million or around Rp 300 billion. That can happen through conversion of debt facilities to the program or the debt swap. Condition, Indonesia should implement a number of development projects in Nanggroe Aceh Darussalam (NAD) and Nias.
Debt swap facilities with Italy divided in three stages. First held in 2006, involving four projects. All have been completed. Four projects that remove debt EUR 1.42 million and 5.02 million USD.
The second phase was conducted in 2007. This consists of six phases and the project has been completed. However, the elimination of debt is still awaiting Italy government approval . The second phase can remove debt Rp 110.17 billion. For the third stage, the Indonesia government proposes 11 projects worth Rp 240.71 billion.
''The projects are implemented by the BRR (Rehabilitation and Reconstruction Agency) NAD-Nias, Bappenas, and the Ministry of Public Works,''said Deputy Coordinating Minister for Economic Affairs International Relations Mahendra Siregar yesterday (9 / 1).
BRR NAD-Nias proposed third stage of development of the fishery Rp 69.5 billion. Meanwhile Bappenas submit Hope Family Program (PKH) in Aceh and Nias worth Rp 46.9 billion.
PU department submits the project, including nine, including the development of roads and irrigation. From the nine projects, five of them approved. However, Mahendra said, because of the limitations of the rest of the allocation of debt that can accomodate in the debt swap facilities, projects will be adjusted.
Tags: Indonesia Foreign Debt , Debt
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