ID :
10630
Mon, 06/23/2008 - 19:10
Auther :
Shortlink :
http://m.oananews.org//node/10630
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RI'S DEBT SWAP DEALS ONLY WORTH US$275 MILLION
Jakarta, Jun 23 (ANTARA) - Indonesia's debt swap program has only reached US$275 million (some Rp2,55 trillion) or far below its total debt of Rp550 trillion, a finance ministry official said.
"The value of the debt swap program is still too low considering the huge potential of Indonesia's soft loans from creditor countries," Director General of Debt Management at the Finance Ministry, Rahmat Waluyanto, said here Monday.
The government had called on creditor countries to consider more seriously debt swap facilities for Indonesia, he said.
Their commitments in various international forums to support the implementation of the MDGs program, climate change, and other programs should be followed up by cooperation in debt-swap facilities at bilateral level, Waluyanto said.
Indonesia needed the debt swap program to increase its development financing sources and support implementation of priority programs in MDGs, climate change, education, health, and environment, he said.
He said so far, Indonesia had concluded debt-swap agreements with Germany, Italy and the United States.
Italy had pledged to convert US$24.2 million and 5.7 million Euro of the country's debt into a grant to be used for rehabilitation of natural disaster-hit-areas.
Both governments had agreed to allocate 14.6 million Euro for 10 projects in infrastructure, education, and health in the tsunami ravaged province of Aceh, that would be managed by the Aceh-Nias Rehabilitation and Reconstruction Agency (BRR).
Meanwhile, the United States had agreed to include Indonesia in a debt-for-nature swap that will involve US$19.6 million of the country's debt to the U.S. being used to finance tropical forest conservation programs.
Under the Tropical Forest Fund, a portion of Indonesia's debt could be reduced and re-directed to finance conservation of the country's tropical forests which are considered to be among the world's most estensive and bio-diverse.
The Tropical Forest Fund was set up jointly by Indonesia, and the US and non-governmental organizations as swap partners, and will contribute funds at a minimum of 20 percent of Indonesia's debts or some US$3.92 million.
"The value of the debt swap program is still too low considering the huge potential of Indonesia's soft loans from creditor countries," Director General of Debt Management at the Finance Ministry, Rahmat Waluyanto, said here Monday.
The government had called on creditor countries to consider more seriously debt swap facilities for Indonesia, he said.
Their commitments in various international forums to support the implementation of the MDGs program, climate change, and other programs should be followed up by cooperation in debt-swap facilities at bilateral level, Waluyanto said.
Indonesia needed the debt swap program to increase its development financing sources and support implementation of priority programs in MDGs, climate change, education, health, and environment, he said.
He said so far, Indonesia had concluded debt-swap agreements with Germany, Italy and the United States.
Italy had pledged to convert US$24.2 million and 5.7 million Euro of the country's debt into a grant to be used for rehabilitation of natural disaster-hit-areas.
Both governments had agreed to allocate 14.6 million Euro for 10 projects in infrastructure, education, and health in the tsunami ravaged province of Aceh, that would be managed by the Aceh-Nias Rehabilitation and Reconstruction Agency (BRR).
Meanwhile, the United States had agreed to include Indonesia in a debt-for-nature swap that will involve US$19.6 million of the country's debt to the U.S. being used to finance tropical forest conservation programs.
Under the Tropical Forest Fund, a portion of Indonesia's debt could be reduced and re-directed to finance conservation of the country's tropical forests which are considered to be among the world's most estensive and bio-diverse.
The Tropical Forest Fund was set up jointly by Indonesia, and the US and non-governmental organizations as swap partners, and will contribute funds at a minimum of 20 percent of Indonesia's debts or some US$3.92 million.
