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Thursday, 13 August 2026 Reading Room
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World

Whoosh debt is not gone, only moved around

The decision to move the consortium's stake to the fiscal authorities is effectively an admission that the domestic SOE structure has reached its limits.

thejakartapost.com ·

Whoosh debt is not gone, only moved around

The Jakarta Post reports that the debt associated with the Whoosh high-speed railway project has not been resolved, but rather moved to a different entity within the Indonesian government. The Finance Ministry has agreed to take a 60 percent equity stake in the project, along with its liabilities, in exchange for the original SOE consortium.

This move is seen as a way to prevent the financial problems from spreading to other SOEs, but it does not eliminate the underlying debt. The article suggests that the situation is not budget-neutral, as the government may still be exposed to the debt if the new entity cannot generate sufficient cash flow to meet its obligations.

Brief written by urgent.news from The Jakarta Post's own syndicated text. Machine-written — may contain errors; check the original before relying on it.

Read the original at thejakartapost.com →

More in World

Three North African websites distributing 'K-webtoons' illegally have been shut down and their operators have been arrested. The Korea Creative Content Agency (KOCCA) said on the 22nd that it had worked with the U.S. based webtoons company, Naver Webtoon, and the non-profit organisation, the Internet Watch Foundation (IWF), to track down and close the illegal websites. The KOCCA said it had confirmed that the three websites, 'Tapas', 'Webtoonsxyz', and 'Toonily', which illegally distributed Naver Webtoon's 'The God of High School', 'Tower of God', and 'Noblesse', had been operated by people in North Africa. The KOCCA and its partners have been working together since 2020 to prevent illegal webtoon distribution. In 2021, they shut down 27 illegal webtoon and manhwa distribution websites and in 2022 they shut down 21. The KOCCA said it will continue to work with global partners to protect intellectual property rights and make the webtoon industry a better place.

·hani.co.kr

President Lee Myung-bak had a golf meeting with Joo Ho-young and Park Deok-hum on the 18th, amid criticism that he was only meeting with people who shared his views. The presidential office said that the meeting was held at a golf course in Suwon, Gyeonggi Province, on the 18th, with President Lee playing with Joo Ho-young, a former Saenuri Party (Grand National Party) floor leader, and Park Deok-hum, a Saenuri Party lawmaker. The presidential office explained that President Lee had a desire to hear the voices of lawmakers who were not directly involved in the presidential transition, saying, "The president invited them to hear opposing views." The meeting comes as criticism has mounted that President Lee has only been meeting with close associates and like-minded people since his inauguration. On the 14th, President Lee had dinner with Chung Mong-hun, the chairman of Hyundai Heavy Industries, and on the 16th, he had a working lunch with Han Seung-soo, the former prime minister. On the 17th, President Lee met with 70-odd entrepreneurs at a meeting hosted by the Federation of Korean Industries. The presidential office emphasized that President Lee would continue to meet with various people, saying, "The president will continue to have meetings with people from various walks of life."

·hani.co.kr

Dr. Adegbajo Odedina: Building Haven Pediatrics to Fight Nigeria’s Child Mortality Crisis

Dr. Adegbajo Odedina once planned to join the wave of Nigerian doctors leaving the country. But he walked away from that plan and from a comfortable life abroad to come

  • Dr. Adegbajo Odedina returns to Nigeria to combat child mortality.
  • Establishes Haven Pediatrics, a 24-hour pediatric hospital in GRA, Ikeja.
  • Offers advanced NICU care for ₦2 million per week, focusing on antenatal care.

·thisdaylive.com

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