BLBI Debt Settled, Government Continues to Pursue Claims Against Debtors and Obligors

Jakarta: The government has completed the repayment of Bank Indonesia Liquidity Assistance (BLBI) bonds to Bank Indonesia (BI).

This debt originated from the issuance of government bonds during the handling of the 1997–1998 financial crisis.

However, Finance Minister Suahasil Nazara emphasized that the repayment of BLBI bonds to BI does not extinguish the government's right to pursue claims against BLBI obligors and debtors. The government retains the right to collect on obligations owed by obligors and debtors associated with banks that received BLBI funds or underwent government recapitalization.

"I wish to emphasize that this repayment does not diminish the state's right to pursue claims regarding the obligations of BLBI obligors or debtors," said Suahasil during a press briefing on the BLBI debt repayment at the Merdeka Palace, Jakarta, on Tuesday, September 22, 2026.

"Why is that? If these debtors were recorded as clients of a bank—a bank that was subsequently recapitalized or had received BLBI funds—and the government later took over that bank, then the government holds the right to collect on all obligations owed by those obligors and debtors," he added.

Suahasil stated that the government would continue its collection efforts against BLBI debtors and obligors. The repayment of BLBI bonds to BI merely resolves the obligation relationship between the government and BI regarding those specific bonds.

"So, I also want to convey that the government will continue to pursue the collection of obligations from these debtors and obligors, even though the relationship between the government and BI regarding the bonds has concluded," he asserted.

Thus, the repayment of BLBI bonds to BI does not mark the end of the government's process of collecting on the obligations of the debtors and obligors.

BLBI repayment marks a historic milestone

Suahasil noted that President Prabowo Subianto welcomed the completion of the BLBI bond debt repayment to BI. According to him, the 1997–1998 economic crisis served as a valuable lesson for Indonesia's economy and macroeconomic policy.

"To clarify—and acting under the President's direction—I would like to state that the President welcomes this resolution. We did indeed face a prolonged crisis at that time, and it certainly served as an immense lesson for the Indonesian economy and its macroeconomic policy," Suahasil explained.

Suahasil added that the debt repayment marks a significant chapter in the history of how the 1997–1998 economic crisis was handled. "It now becomes a matter of historical record, and today, the chapter closes: the debt owed to Bank Indonesia regarding BLBI bonds has been fully settled and paid off," he emphasized.