INDONESIA DEFERS MORE DOWNSTREAM PROJECTS

Indonesia's mounting foreign debt problems have caused it to further rein its ambitious downstream expansion plans. In the latest move, the government late last month put a ceiling of about $5.9 billion/year in commercial foreign debt for 15 projects, notably involving petrochemicals and other petroleum related areas. In the current fiscal year, Indonesia's central bank will be limited to raising $400 million in foreign funds, state banks limited to $1 billion, private banks $500

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