Indonesia Seizes US$1.3 Billion BLBI Debtor Assets

TheIndonesia.co - Coordinating Minister for Political, Legal, and Security Affairs Mahfud MD said the Bank Indonesia Liquidity Assistance (BLBI) Task Force had confiscated assets of BLBI obligors and debtors of more than Rp19 trillion or US$1.3 billion.

"Until now, the BLBI Task Force has confiscated land assets covering an area of 19,988,942.35 square meters. If valued in terms of money, all of them are conservatively calculated with an average calculation of Rp. 19,134,633,815,293.00," said Mahfud in his written statement in Jakarta, Friday, April 1, 2022.

The most recent asset confiscated was collateral belonging to obligor Agus Anwar in the form of land covering an area of 340 hectares in Bojong Koneng Village, Babakan Madang District, Bogor Regency or known as PT Bumisuri Adilestari assets, on Thursday, March 31, 2022.

The government will continue to focus on restoring state rights and pursuing the assets of BLBI obligors and debtors because BLBI assets are state assets that must be saved.

Mahfud also admitted that he does not want to bother the debate related to the BLBI case. For Mahfud, what he and the BLBI Task Force are doing is for the interests of the people.

"Please, those who want to argue. Some are dissatisfied with why it was withdrawn, some want to go to court, please (do). Anyway, we confiscate first, you can argue (later). BLBI is a state property for the people," said the former Chief Justice of the Constitutional Court.