Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: bill718 who wrote (3135)	4/16/1998 6:10:00 PM
From: john	Respond to of 4718

john snape must have dug a little deeper.

To: bill718 who wrote (3135)	4/16/1998 7:43:00 PM
From: bill718	Read Replies (1) \| Respond to of 4718

NY--Indonesia, banks agree on "set of principles" Thursday April 16, 7:07 pm Eastern Time NEW YORK, April 16 (Reuters) - Representatives of the Indonesian government and a 13-member bank committee agreed on a set of principles governing a solution to Indonesia's debt crisis, the parties said in a joint statement on Thursday. ''The meeting between the Indonesian bank steering committee and representatives of the Republic of Indonesia were marked by constructive and positive discussions regarding a broad set of principles to provide a framework for bilateral negotiations of Indonesia's private external debt,'' the statement said. The statement said the principles agreed upon were ''inspired'' by the Ficorca program that allowed Mexico to resolve its corporate debt crisis of the early 1980s. Ficorca allowed Mexican companies to repay their foreign debt in pesos to Ficorca, which then paid foreign creditors in dollars. The Mexican government technically did not assume the loans, only the foreign exchange losses, after the peso fell 80 percent in 1982. The statement also said the framework was ''intended to provide private-sector debtors with protection against foreign exchange rate risk and to assure debtors and creditors of the availability of foreign exchange needed to service restructured debt of the private sector. ''Participation in the program would be voluntary and would require the consent of both the debtor and its creditors,'' the statement said. It also said both sides would meet again early next month but did not mention a location. ''Although much remains to be resolved, we are very encouraged by the progress we have achieved,'' Indonesia's chief negotiator, Radius Prawiro, said in the statement.