Indonesia Finance Ministry keeps BLBI receivables collection in place

We hope these obligations will continue to be pursued, and that the proceeds will then be used for the benefit of our people through the State Budget..

Jakarta (ANTARA) - The Finance Ministry said it will continue handling state receivables from Bank Indonesia Liquidity Assistance (BLBI) following the expiration of the BLBI Task Force's mandate at the end of 2024.

Finance Minister Suahasil Nazara said the task of collecting on obligations owed by BLBI obligors and debtors is now being carried out through a permanent structure within the Finance Ministry, specifically the Directorate General of State Assets (DJKN).

"The BLBI Task Force concluded at the end of 2024, and in terms of governance, that work has been continued by the Finance Ministry," Nazara said at the State Palace here on Tuesday.

Nazara stressed that the government will not re-establish the BLBI Task Force, and that the handling of state receivables will continue through mechanisms under the Finance Ministry.

He said the State Receivables Affairs Committee (PUPN), under DJKN, is responsible for collecting on all outstanding state receivables. According to Nazara, the continuation of BLBI receivables handling is reinforced by Government Regulation No. 4 of 2024, which serves as the legal basis for completing the collection process.

"We hope these obligations will continue to be pursued, and that the proceeds will then be used for the benefit of our people through the State Budget (APBN)," he added.

The government has fully repaid its BLBI bond debt to Bank Indonesia (BI), totaling Rp218.3 trillion, he mentioned.​​​​​​​

Nazara said the repayment was completed on August 24, 2026, marking the end of the government's obligations to BI stemming from bonds issued during the 1997-1998 financial crisis response.

"At the end of last month, we successfully completed the repayment of the BLBI bond debt to Bank Indonesia," Nazara said.

According to him, the BLBI bonds were issued by the government around three decades ago as part of its response to the 1997–1998 economic crisis. The government subsequently made regular payments through the APBN to BI to settle the obligation.

Related news: Indonesia fully settles debt linked to 1997-1998 financial crisis

Translator: Maria, Kenzu
Editor: M Razi Rahman
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