Indonesia Renews Debt Relief Program for Settlement of Unpaid Patent Annuities

Indonesia has issued a continuation of its debt relief program—which covers settlement of unpaid patent annuities—from 2021. The debt relief program, which Indonesia has named its “Crash Program,”  has been adjusted to make it more practical for debtors and responsive to their needs. The updated “Crash Program” is laid out in the Ministry of Finance’s Regulation No. 11/PMK.06/2022 regarding Settlement of State Receivables through the Crash Program Mechanism, which was issued on February 21, 2022, replacing a similar notification from the previous year.