IWF gibt Indonesien Kredit von 395 Millionen Dollar - 500 Beiträge pro Seite | Diskussion im Forum

[dpaAFX]

WASHINGTON (dpa-AFX) - Der Internationale Währungsfonds (IWF) hat am Montag einen Kredit von 395 Millionen Dollar (440 Millionen Euro/860 Millionen Mark) für Indonesiens Wirtschaftsreformen bewilligt. Wie der Fonds in Washington mitteilte, ist die Summe Teil eines dreijährigen Hilfsprogramms von zusammen fünf Milliarden Dollar.

Die neue indonesische Regierung unter Präsidentin Megawati Sukarnoputri habe mit der Annahme von Reformmaßnahmen für eine bedeutende Stimmungsverbesserung auf den Märkten gesorgt. Das Land habe das Potenzial zu einer starken wirtschaftlichen Erholung, wenn es die Reformen konsequent umsetze./DP/aa

Autor: dpa - AFX (© dpa),07:30 11.09.2001

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Hier nochmal die details.

Vielleicht hilft`s !

News Brief No. 01/87
September 10, 2001 International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA




IMF Completes Third Review of Indonesia Program,
Approves $395 Million Disbursement
The Executive Board of the International Monetary Fund (IMF) completed today its third review of Indonesia`s performance under a three-year, SDR3.638 billion (about US$5 billion) Extended Fund Facility (See Press Release No. 00/4). This opens the way for release of a further SDR 309.65 million (about US$ 395 million) from the arrangement.

At the conclusion of Executive Board discussions on Indonesia`s economic program, Ms. Anne Krueger, First Deputy Managing Director, stated:

"The conclusion of the third review under the extended arrangement between Indonesia and the IMF is based on the adoption of early confidence-building measures, and the commitment of the new economic team to maintain macroeconomic stability and reinvigorate reforms. A significant improvement in market sentiment has already been achieved, and Indonesia has the potential to sustain a strong recovery of investment and output based on the firm and consistent implementation of the government`s economic program.

"Indonesia`s program aims to strengthen confidence by maintaining low inflation and sound public finances, while promoting the recovery of investment and output through accelerated asset recovery and structural reforms. The agreement on measures to keep the 2001 budget on course, including through safeguards to minimize the risks represented by fiscal decentralization, is an important signal of the government`s commitment to macroeconomic stability. It is clear that achieving the planned non-inflationary financing of the budget will require accelerated enterprise privatization and IBRA asset recovery. The announcement of the main objectives for the 2002 budget, which aim at further fiscal consolidation by strengthening the revenue base and better targeting of expenditures and transfers, is welcome. Directors commended the authorities` plans to put into place mechanisms to cushion the poor against the impact of fuel price increases.

"The Indonesian government has taken important steps to address fragilities in the banking system. The replenishment of the governmental guarantee fund for depositors will maintain confidence in Indonesia`s banks, and the planned sale by IBRA of strategic stakes in banks BCA and Niaga will serve as an important litmus test of the government`s commitment to reprivatizing the banking system. Measures to improve the governance of state banks and enhance bank supervision are also essential elements of the financial sector reform agenda.

"Accelerating asset recovery and debt restructuring remain essential for reducing the debt burden, reviving investment flows, and securing the efficiency gains for sustaining growth. The Fund encourages IBRA to make renewed efforts to overcome recent delays and dispose of assets with improved governance and transparency. In this context, the Fund welcomes the government`s commitment to making public the results of the Oversight Committee`s independent reviews of IBRA`s large restructurings, beginning with the first four reviews in August. The Fund recommends a more forceful implementation of the framework for corporate debt restructuring through the JITF. The work of both IBRA and the JITF will depend on taking forward, with greater vigor, legal reforms to tackle continuing debtor recalcitrance and improve the governance of the court system. Sustained progress in all of these areas will be key to lasting success of the program.

"In adopting the new measures, the Indonesian authorities have responded decisively to macroeconomic challenges and market uncertainty. The strengthened program deserves the strong support of the international community," Ms. Krueger said.

IMF EXTERNAL RELATIONS DEPARTMENT
Public Affairs: 202-623-7300 - Fax: [phone]
Media Relations: 202-623-7100 - Fax: [phone]

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Die IBRA ist auch noch immer aktiv !

Press Release

17 September 2001

IBRA Intends To Sell Its Core Assets Portfolio Through Auction And Direct Selling


IBRA will conduct the next stage of the sale of its corporate core assets, by way of two disposal schemes, one will be proceeded through an Open Auction which is named the Corporate Core Assets Sale IV and the other will be put into Direct Selling Programme.

I. Corporate Core Asset Sales IV (“CCAS IV”) – Batch 1
CCAS IV will commence on September 17, 2001, with final closing on November 30, 2001, comprising eight (8) debtor companies with total obligations as per Debt Restructuring Agreement of approximately USD 1,041 million (please see the table below). Nonetheless, these figures may change subject to on going payments received by BPPN.

Name of Debtors Line of Business Principal Debts )in USD
1. PT Polypet Karyapersada Polyester 52,637,149
2. PT Polyprima Karyareksa Petrochemical (PTA producer) 356,950,000
3. PT Sipatex Putri Lestari Textile (polyester producer) 42,491,523
4. PT Bakrie Nirwana Resort Hotel, resort and golf 172,628,563
5. Cisadane Raya Chemichals Oleo-chemichal 146,209,354
6. PT Asia Cellular Satelite Telecommunication 60,760,000
7. PT Pasifik Satelit NUsantara Telecommunication 149,500,000
8. PT Central Pertiwi Bahari Chrimp Farming 60,339,545
T O T A L 1,041,516,134

The offered corporate core assets are generally secured by fixed/movable assets, receivables, personal guarantee and other collateral.

The CCAS IV programme is open to domestic and foreign investors. Elligible Indonesian investors shall be a legal entity that possesses necessary licenses to acquire and maintain loans, bonds and equity in Indonesia. Elligible Foreign investors shall be a legal entity in the country of their domicile and which, based on the laws of their country of domicile and the Laws of Indonesia, may acquire and maintain loans, bonds and equity in Indonesia.

Prospective investors who require further information on this CCAS IV programme may request a copy of Information Memorandum after signing a Confidentiality Agreement and paying an administration fee. Interested investors must submit to IBRA a Letter of Interest along with their respective Corporate Profile, latest annual Financial Report and a copy of Company Establishment on September 26, 2001, at the latest. Prospective investors who have met the above requirements may proceed to the due diligence process starting from September 26, 2001 and must submit their final, binding and unconditional bids on October 31, 2001. The winning bidders will be announced to the public on December 3, 2001.

II. The Direct Selling Program (“DSP”)
In additional to the open auction, IBRA is conducting the DSP for its restructured core assets, with a total book value of approximately IDR 10.409 trillion. (please see Appendix)

The DSP complies with the Financial Sector Policy Committee (FSPC) Decree Number Kep.02/KKSK/12/2000 dated December 12, 2000 and the Minister of Finance of the Republic of Indonesia Decree Number S-382/MK/2001 dated July 6, 2001 regarding the sales of restructured assets that may be purchased or refinanced by banks or investors, without going through an open auction with the condition that the offer shall be above 70% of the Original Principal Amount and/or higher than IBRA’s internal valuation.

The major Terms and Conditions of the DSP are:

First, the offer shall be higher than 70% of the Original Principal Amount (OPA) and must be in the same currency of the OPA..
Second, the DSP is on “first come first served” basis.
Third, prospective buyers may submit their offer for more than one assets. Fourth, prospective buyes must submit a proof of payments of security deposit, sign Confidentiality Agreement and Statement of No Conflict of Interest and Compliance with Related Regulations. Fifth, prospective buyers who submit offers below the 70% of OPA minimum requirements will be disqualified and IBRA will retain and own the security deposit.

The DSP is open to domestic and foreign prospective buyers who have the license to buy and manage core assets. The DSP portfolio will comprise IBRA’s claims on debtors in the form of loans and/or bonds, and/or convertible bonds and/or equity resulting from debt conversion based on the restructuring agreements.

IBRA will conduct the DSP of its restructured core assets on a perpetual basis, so that prospective buyers can purchase IBRA’s core assets directly, without going through the Open Auction programme. At this juncture, the DSP programme only includes restructured assets. IBRA has the right to withdraw certain core assets from the DSP programme without notice.

The CCAS IV and DSP are part of IBRA’s effort to accelerate the rehabilitation of its core assets portfolio with value of over IDR 50 billion per obligor and to meet IBRA’s cash collection target for 2001.

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