December 3, 2025 | 11:18 pm
TEMPO.CO, Jakarta - Minister of Finance Purbaya Yudhi Sadewa has confirmed that discussions concerning the debt restructuring of PT Kereta Cepat Indonesia China (KCIC), the operator of the Jakarta-Bandung high-speed rail or Whoosh, are actively ongoing with Danantara. Purbaya met with Danantara Indonesia CEO Rosan Roeslani at the Ministry of Finance office today, December 3, 2025.
Purbaya stated that his meeting with Rosan Roeslani covered a range of topics, "Including the [debt restructuring] of KCIC. We are still trying to figure out the suitable form," Purbaya told journalists at the Indonesia Stock Exchange on Wednesday, December 3, 2025.
The State Treasurer elaborated that the specifics of the debt restructuring scheme will continue to be detailed by the technical teams from the Ministry of Finance and Danantara. However, Purbaya mentioned that the government already has a general idea of the future course of action.
Regarding plans to visit China for negotiation, Purbaya stated that he first wants to clarify the counterpart he will meet, whether it is the China Development Bank (CDB) or the National Development and Reform Commission (NDRC). "Once it is clear who we will meet and what the scheme will look like, then we will go to China," he said.
Previously, Chief Operating Officer of Danantara Indonesia, Dony Oskaria, guaranteed that the debt restructuring for the Whoosh high-speed train would be completed this year. He stated that negotiations with China are still underway.
According to Dony, Danantara was planning an imminent trip to China to negotiate the loan repayment terms. "This is our negotiation point, related to the loan period, interest rate, and also some currencies that we will discuss with them," Dony told journalists at the Ministry of Finance office in Jakarta on Thursday, October 23, 2025.
Dony concluded that while the government is considering all debt restructuring options for the high-speed train, the primary focus for KCIC as the operator is ensuring the future improvement of Whoosh’s services.
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