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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Richard A. Green who wrote (1628)	1/27/1998 12:21:00 PM
From: tom	Read Replies (1) \| Respond to of 9980

Whether or not Indonesia chooses to use the name or not it has entered into a debt moratorium. There is no possible way that it can meet its obligations. Any restructuring of the debt would still result in repayment obligations that would cripple the country. This move forces foreign banks to start serious negotiations and might force Indonesian companies to sell off assets to meet debts. Prawiro also mentioned some rubbish about setting up a deposit insurance scheme which they clearly have no way of paying for. Ah well, at least we might get a brief jump in the Rupiah to sell anything left in Indonesia.