ANNOUNCEMENT 16 Feb 2010

In February 2010, the government of Indonesia announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Govt promises to help ease DI debt problems, The Jakarta Post,
Feb, 16th 2010
http://m.thejakartapost.com/news/2010/02/16/govt-promises-help-ease-di-debt-problems.html

Dirgantara seeks Rp 1.6t to restructure debt, The Jakarta Post
Dec, 12th 2009
http://m.thejakartapost.com/news/2009/12/12/dirgantara-seeks-rp-16t-restructure-debt.html


Inception date: 16 Feb 2010 | Removal date: open ended
Still in force

Capital injection and equity stakes (including bailouts)

The Indonesian government announced that it will settle the debts of a state-owned aircraft manufacturer, PT Dirgantara Indonesia so that the company is able to benefit from further bank loans and develop its business. The government agreed to restructure the company's worst debt in the amount of Rp 1.76 trillion (that is USD 188.2 million). Largest part of the debt that PT Dirgantara Indonesia that was included in this scheme was towards the governmental loan facilities. 


 The company last made profits in 2006. In 2007 and 2008 it suffered losses said to be due "to large debt and declining business". 

AFFECTED SECTORS