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Article: IBRA TO PAY RP 81.9 TRILLION TO STATE TREASURY.(Statistical Data Included)
- Article from:
- Indonesian Commercial Newsletter
- Article date:
- March 13, 2001
CopyrightCOPYRIGHT 2001 P.T. Data Consult, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Indonesian Bank Restructuring Agency (IBRA) succeeded in meeting its target to raise Rp 18.9 trillion for the state treasury in 2000. The fund was needed to cover a deficit in the state budget.
IBRA has four divisions - Asset Management Credit (AMC), Asset Management Investment (AMI), Bank Restructuring Unit (BRU) and a division for other operations.
AMC handles bank debts transferred to IBRA and AMI handles the obligation of shareholders and sales of assets transferred to IBRA and BRU handles the process of restructuring and recapitalization of banks. Other operations include management of funds from credit payments, sales of non core assets, sales ...