Finance Minister Suahasil Stated that Rp218.3 Trillion BLBI Bond Debt to BI Finally Settled

Jakarta: Finance Minister Suahasil Nazara announced that the government has completed the repayment of the Bank Indonesia Liquidity Assistance (BLBI) bond debt to Bank Indonesia (BI).

The debt originated from government bond issuances during the handling of the 1997–1998 financial crisis.

Suahasil stated that the debt settlement was achieved through the management of the State Budget (APBN) and cooperation between the Ministry of Finance, acting as the government's representative and Bank Indonesia.

"Through sound management of the State Budget and the economy to date, and with effective cooperation between the Ministry of Finance as the government's representative and BI, we completed the repayment of the BLBI bond debt to BI at the end of last month," said Suahasil during a press briefing regarding the BLBI debt settlement at the Merdeka Palace, Jakarta, on Tuesday, September 22, 2026.

Suahasil explained that the debt stemmed from bonds issued by the government while addressing the 1997–1998 economic crisis.

"This BLBI bond debt to BI consists of bonds issued when the Indonesian government was dealing with the 1997 and 1998 financial crisis," he elaborated.

According to Suahasil, one of the government's measures during the crisis was the issuance of Bank Indonesia Liquidity Assistance bonds. These bonds subsequently became a government liability, with repayments made in stages to BI via the State Budget.

The total value of the bonds issued at the time was Rp218.3 trillion. The government recorded this amount as debt to BI and repaid it periodically.

"The total value of the bonds issued at that time was Rp218.3 trillion; this was recorded as government debt to BI, and the government routinely made payments to BI over time through the State Budget," Suahasil detailed. Payment via Non-Tax State Revenue (PNBP)

Suahasil explained that the final payment on the bond debt was made on August 24, 2026. The payment utilized Non-Tax State Revenue (PNBP) derived from Bank Indonesia's residual surplus.

"The final payment was made this past August 24 using Non-Tax State Revenue sourced from BI's residual surplus," he stated.

He further explained that Bank Indonesia's operational surplus can be remitted to the state treasury in accordance with regulations. These receipts are then recorded as PNBP.

"So, when BI operates, it may generate a surplus. Regulations govern the amount of that surplus, which is then transferred to the state treasury. We record it as PNBP," Suahasil said.

BLBI bond debt finally settled

The PNBP derived from BI's surplus was used to pay off the bond debt issued to address the 1997–1998 economic crisis.

"The PNBP from BI's surplus was used to pay the debt incurred during the crisis management efforts back then. The Rp218.3 trillion bond debt has been fully paid off; it is completely settled," Suahasil said.

With this repayment, Suahasil stated that the government has fulfilled its obligations regarding the bonds issued to handle the 1997–1998 economic crisis.

"Thus, we are truly closing the chapter on the bonds issued to manage the 1997–1998 crisis, a matter resolved during the administration of President Prabowo Subianto," Suahasil emphasized.