Home · World · Sep 16 archive
Indonesia Swaps Finance Minister to Calm Investor Concerns
Developing
In Short: Indonesia has replaced its finance minister, Purbaya Yudhi Sadewa, with Suahasil Nazara, amid growing investor skepticism about the country's fiscal management.
Indonesia has replaced its finance minister to address investor concerns, appointing Suahasil Nazara as his successor.
The new finance minister, Suahasil Nazara, said, "This is just a continuation, not a change… We will continue to manage the state’s finances in a better way," reflecting the government's commitment to stability.
The appointment of Suahasil Nazara, who has served as deputy finance minister since 2019, is intended to reassure investors worried about Jakarta’s fiscal profligacy, following a year marked by economic turbulence.
The government did not specify the reason for Purbaya's removal, but his tenure was characterized by economic challenges, including a depreciating rupiah and investor skepticism.
What's still developing
- The government did not say why Purbaya was removed, but his year in the post has been marked by ructions in the Indonesian economy, including a sharp depreciation of the rupiah and growing investor skepticism.
- In late July, Perry Warjiyo, the governor of Bank Indonesia, the country’s central bank, stepped down, two years before the expiry of his current term as BI governor.
- Purbaya was appointed finance minister last September, after the resignation of Sri Mulyani Indrawati, who had served in the post under three presidents.
Sources
- Thediplomatlink