Late payments by Pacific International create headache for Bank Indonesia
Article Abstract:
Sources disclosed that PT Pacific International Finance's (Pacific International) debt-payment difficulties are becoming a growing problem for Bank Indonesia. Pacific International has accumulated over $600 million in borrowings since the early 1990s and it is now overdue on some payments. Nervous creditors, which include several European banks and their clients, are now going after PT Bank Pacific, which had guaranteed some of the company's loans, and Bank Indonesia, which owns 38.25% of PT Bank Pacific. Pacific International is headed by a daughter of Ibnu Sutowo, a retired army general who almost drove the country into bankruptcy when he headed the state oil firm, Petramina.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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Indonesia's good news is met with a shrug: country's positive developments fail to spur long-term stock interest
Article Abstract:
Investors and financial analysts believe that foreign investors will opt to remain in the sidelines despite news of positive developments in the country's economic and political situation. Analysts think investors are still apprehensive of investing in the Indonesian stock market due to the volatile economic situation and the spate of riots which occurred. In the meantime, the Jakarta Stock Exchange index has posted a 10% improvement in the first three weeks of July 1998 while the government has promised to look into the violence which erupted in May 1998.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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World Bank report on Indonesia is positive, but urges acceleration of privatization efforts
Article Abstract:
World Bank has given Indonesia a favorable economic rating but encouraged the Indonesian government to intensify its efforts to privatize state-owned enterprises. Moreover, the World Bank warned Indonesia about a possible overheating economy and urged it to continue implementing sound monetary policies. In addition, the bank called on Indonesia to continue with its deregulation program and lauded the government for its decision to push forward with important trade reforms.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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