US EditionIndonesian Stocks, Rupiah Fall After Finance Minister’s Sudden Exit
Purbaya Yudhi Sadewa pledges 6%-7% economic growth to ease unrest and implement President Prabowo's vision, while markets react with a 1.3% stock index drop.
- Purbaya Yudhi Sadewa was sworn in as Indonesia's Finance Minister, replacing Sri Mulyani Indrawati, who was respected for her fiscal discipline but faced political pressure, indicated by nationwide protests against her policies.
- Purbaya stated he would target short-term growth between 6% and 7%, emphasizing that he aims to navigate global challenges while also balancing fiscal responsibility and economic demands.
- President Prabowo Subianto aims to accelerate economic growth as Indonesia faces declining momentum, while fears grow about potential budget deficits following Indrawati's departure.
- Indonesian stocks and the rupiah fell after Indrawati's removal, raising concerns among investors that fiscal credibility might be eroded by Prabowo's populist spending plans.
17 Articles
17 Articles
Indonesian Stocks, Rupiah Fall After Finance Minister’s Sudden Exit
Former Finance Minister Sri Mulyani's Indrawati’s sudden exit comes amid growing concern over President Prabowo Subianto populist policies that have so far failed to address the widening income inequality, which sparked widespread protests in recent weeks.
Channel News Asia
The Straits TimesIndonesia's new pro-growth finance minister says job is not easy
JAKARTA: Indonesia's new pro-growth Finance Minister Purbaya Yudhi Sadewa said he faced a difficult job as he officially took office on Tuesday (Sep 9), with the currency and stocks falling in reaction to the exit of the long-serving finance czar Sri Mulyani Indrawati. President Prabowo Subianto on Monda
Malay Mail
AlKhaleej Today‘Not easy’: Indonesia’s new pro-growth finance minister takes helm amid market turmoil
JAKARTA, Sept 9 — Indonesia’s new pro-growth Finance Minister Purbaya Yudhi Sadewa said he faced a difficult job as he officially took office today, with the currency and stocks falling in reaction to the exit of long-serving finance czar Sri Mulyani Indrawati.President Prabowo Subianto yesterday replaced Sri Mulyani, known for her cautious handling of the economy, with economist Purbaya, who has promised accelerated growth amid fears of an econ…
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