Abstract: Following several years of very strong economic growth, Southeast Asia's long boom came to an abrupt end. The first alarm sounded when Thailand's currency was devalued in July of 1997. As the financial crisis spread through the region, Indonesia was hit hardest of all. The collapse of the Indonesian rupiah brought down all twenty-seven of the electric power agreements that had so recently been concluded. Their debt-like characteristics made absolutely sure of this.

Keywords: Indonesia, Asian Currency Crisis, rupiah, power projects, power agreements,