BLBI Task Force’ Term Extended: Is There Anything Left to Find?

By Editorial Team 02/01/2024
debt risk
Summary

President Joko Widodo has extended the tenure of the Task Force tasked to resolve the issue of state collection rights for the Bank of Indonesia Liquidity Assistance (BLBI) funds from Dec 31, 2023, to Dec 31, 2024. Under the guidance of Political, Legal and Security Affairs Minister Mahfud MD, the team has acquired new legality through Presidential Decree No. 30/2023, which amends Presidential Decree No. 16/2021.

Rionald Silaban, Head of the BLBI Task Force, said extending their tenure considers the ongoing potential for the state to reclaim rights from obligors or debtors requiring comprehensive handling. Moreover, he highlighted that the collaborative efforts among agencies within the task force have streamlined business processes effectively to aid in resolving complex asset cases. The task force has actively pursued debtors' and obligors' liabilities, initiating blockades or seizures of pledged assets and wealth while preventing international travel. "Regarding property assets, we exercise control right up to their sale for the recovery of state rights," he said on Dec 31.

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