Indonesia Fully Repays 1997 Crisis BLBI Debt, Suahasil Announces

9 hours ago 8

September 20, 2026 | 08:33 pm

Finance Minister Suahasil Nazara explained the state's financial situation at the August 2026 edition of the State Budget (APBN KiTa) press conference at the Ministry of Finance office, Jakarta, September 18, 2026. Tempo/Martin Yogi Pardamean

TEMPO.CO, Jakarta - Finance Minister Suahasil Nazara stated that state obligations on debt securities issued to handle the 1997–1998 Bank Indonesia Liquidity Assistance (BLBI) crisis were fully settled in August 2026.

"Now, the debt securities issued to navigate the 1997–1998 financial crisis were fully settled as of August. This is our achievement," Suahasil said in an official statement broadcast on the Finance Ministry’s YouTube channel, cited in Jakarta on Sunday, September 20, 2026, as reported by Antara.

The payoff was financed using a surplus from Bank Indonesia (BI) deposited into the State Treasury. Suahasil explained that the central bank’s surplus was identified during the audit of the 2025 financial year. In accordance with existing regulations, Bank Indonesia then transferred the excess funds directly to the state treasury.

As a result, the Ministry of Finance received revenue from Separated State Wealth (KND) amounting to Rp58 trillion. "Its use is regulated to pay obligations or settle the Indonesian debt securities. The state debt securities issued during the 1997–1998 crisis," Suahasil noted.

Suahasil deployed the central bank surplus specifically to clear obligations tied to the 1997–1998 financial bailout. The final clearance of BLBI-related debt securities follows the earlier redemption of recapitalization bonds completed in July 2020.

“There were several types of bonds issued at that time (1997-1998 crisis). Now, some were settled in July 2020, and there were those settled last month (August),” Suahasil said.

Read: Luhut Says China Has No Objection to Whoosh Debt Payment Plan

Click here to get the latest news updates from Tempo on Google News

Finance Ministry Allocates Rp10.25bn for BLBI Case Resolution in 2025

9 September 2024

Finance Ministry Allocates Rp10.25bn for BLBI Case Resolution in 2025

The Finance Ministry has allocated a budget of Rp10.25 billion for a program to address state debt collection rights arising from the BLBI case.

Texmaco Boss, BLBI Obligor Marimutu Sinivasan Claims Medical Treatment While Crossing for Malaysia

9 September 2024

Texmaco Boss, BLBI Obligor Marimutu Sinivasan Claims Medical Treatment While Crossing for Malaysia

BLBI obligor and Texmaco boss, Marimutu Sinivasan, allegedly tried to exit Indonesia for medical treatment.

Breaking News: BLBI Obligor Marimutu Sinivasan Suspected of Fleeing to Malaysia, Caught by Immigration

9 September 2024

Breaking News: BLBI Obligor Marimutu Sinivasan Suspected of Fleeing to Malaysia, Caught by Immigration

Bank Indonesia Liquidity Assistance (BLBI) Obligor, Marimutu Sinivasan, allegedly wanted to flee to Malaysia. He was caught by immigration officers.

Police Seize Rp5.9 Tn in Assets from BLBI Debtor

28 Januari 2022

Police Seize Rp5.9 Tn in Assets from BLBI Debtor

The police have seized Rp5.9 trillion in state assets from a BLBI debtor, which will later be returned to the government.

A New Chapter of The BLBI Case

24 April 2021

A New Chapter of The BLBI Case

The chase after assets held by Bank Indonesia Liquidity Assistance (BLBI) recipients should continue with all the force of the law behind it.

Cleaning Up the Judges

4 Oktober 2019

Cleaning Up the Judges

One of the three judges that granted Syafruddin Temenggung's appeal met with the suspect's attorney. This is new evidence for a re-examination.

KPK to Question Ex Finance Coordinating Minister in BLBI Case

19 Juli 2019

KPK to Question Ex Finance Coordinating Minister in BLBI Case

KPK is set to question Rizal Ramli, former coordinating minister of economics, finance, and industry, in the BLBI case.

KPK Deputy Chairman: We Will Not Stop Pursuing the BLBI Case

19 Juli 2019

KPK Deputy Chairman: We Will Not Stop Pursuing the BLBI Case

All the hard work the KPK has put in the Bank Indonesia Liquidity Assistance (BLBI) graft case is now on the brink of going up in smoke.

KPK Examines Kwik Kian Gie, Rizal Ramli over BLBI Case

11 Juli 2019

KPK Examines Kwik Kian Gie, Rizal Ramli over BLBI Case

KPK summoned former Coordinating Ministers Kwik Kian Gie and Rizal Ramli, over the misuse of BLBI funds case.

Sjamsul Nursalim Suspect in BLBI Case; State Loss up to Rp4.58tn

11 Juni 2019

Sjamsul Nursalim Suspect in BLBI Case; State Loss up to Rp4.58tn

The anti-graft body or KPK named Sjamsul Nursalim and his wife Itjih S. Nursalim suspect in BLBI graft case that caused Rp4.58 trillion in state loss.

Read Entire Article