Jakarta, IO – Finance ministry’s expert staff Yustinus Prastowo said four countries – Germany, Italy, Australia and the US – have committed to cancel Indonesia’s debts totaling US$334.9 million (Rp5 trillion) through debt swap program.
“The agreed debt conversion is for projects/programs that must be implemented by the Indonesian government,” he tweeted, reported Detik on Tuesday (18/10).
“The programs vary. Germany is interested in education, health and global fund. Australia health. US tropical forest, Italy housing and settlement.”
As of September 30, the government has realized US$290.51 million (Rp4.49 trillion) worth of projects.
As part of its commitment to realize the programs, the Indonesian government has also contributed US$215.35 million (Rp3.33 trillion).
“So the debt cancelation comes with a consequence, but it’s a good one,” added Prastowo. (rr)