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Indonesian leader defends $715 mln bank bailout76 days ago
(AP:JAKARTA, Indonesia) Indonesia's vice president has defended a $715 million bank bailout as having been vital to protecting the financial system amid the global economic crisis.
Newly installed Vice President Boediono, a former central bank governor, said Wednesday the capital injection to Bank Century late last year was "the right thing" to do. Like many Indonesians, he uses only one name.
Indonesia, which suffered financial collapse just over a decade ago, has weathered the recent crisis almost unscathed.
But the main audit agency this week called for an investigation into accusations of irregularities in the bailout.
The criticism poses an additional headache for President Susilo Bambang Yudhoyono, who is facing a major corruption scandal since his re-election in July.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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