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 (3142)	4/17/1998 2:14:00 AM
From: bill718	Read Replies (1) \| Respond to of 4718

Indonesia and foreign lenders resuming N.Y. talks Friday April 17, 12:57 am Eastern Time NEW YORK, April 16 (Reuters) - Indonesian officials and lenders from around the globe were set to begin their second day of preliminary talks on rescheduling $74 billion in debt on Thursday morning, a spokesman for the bankers said. The debt owed by Indonesian corporations is being discussed at Chase Manhattan Bank's New York headquarters. On Wednesday, Indonesia sketched a plan for the restructuring to the bankers, but there were few details, according to sources familiar with the talks. One bank executive said that meeting was held in ''a very positive atmosphere.'' Bankers involved in the talks said Wednesday they might agree to forgive a small portion of Indonesia's total debt if the participants reach a satisfactory restructuring of the remaining obligations. Bankers have also said they want to evaluate the impact of an Indonesian reform package unveiled last week. Jakarta has grudgingly agreed to implement 117 reforms to revive its battered economy at the IMF's behest and scrapped plans for a currency board to rescue its battered currency, the rupiah. The government has sought to boost the rupiah to 6,000 to the dollar. The currency, which was trading at around 8,000 to the dollar Thursday, has fallen from 2,400 before Indonesia's debt crisis exploded last July. Chase, Germany's Deutsche Morgan Grenfell and Japan's Bank of Tokyo-Mitsubishi are the co-chairs of the 13-member Indonesian bank steering committee.