Tempo-May 23

Any relief on debt payments must prioritize the principle of caution. There must be a cordon to keep out thieves. The restructuring of loans held by debtors affected by Covid-19 must be protected from stowaways. The Financial Services Authority (OJK) must learn from the banking restructuring following the 1998 crisis. This crisis led to the closure of almost a hundred banks in only two years. Hundreds of debtors still have huge loans outstanding, and only a few of them have gone bankrupt. Hardly any small-scale debtors were affected by the crisis.

Read more at: https://en.tempo.co/read/1345607/dangers-restructuring