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Squabbling among Indonesia’s politicians underlies financial chaos |
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Privatization in Indonesia is being delayed by chaos at its largest investment bank, Danareksa, where 60 bankers have taken voluntary retirement after nearly a year of political infighting. Insiders say the redundancies have stripped Danareksa of key expertise and experience needed to manage mandates to sell government assets.
Along with Bahana Securities, also government-owned, Danareksa has lead-managed virtually all sales of state assets over the past 10 years, normally in tandem with the major US investment banks.
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