Could Sri Mulyani Be The New Central Bank Governor?

Indonesia’s Finance Minister, Sri Mulyani Indrawati, is rumoured to be getting the nomination for the governorship of Bank Indonesia (BI), succeeding Perry Warjiyo, who is set to retire in April, according to reporting from Jakarta Globe.

While providing no denial of the rumours, President Joko “Jokowi” Widodo said on Tuesday he has yet to propose a new central bank governor to the House of Representatives.

However, during an exclusive interview with news broadcaster BTV, he cited requirements for his pick, which sounded like the skills and personal qualities that Sri Mulyani has.

“The nominee is proposed by the president but I haven’t made any decision,” Jokowi told BTV Chief Editor Apreyvita Wulansari, who asked the question at the presidential palace in Jakarta.

“I always take the track record of a person into consideration, assessing the personal ability in synergism, because the monetary, fiscal, and real sectors must be safeguarded very seriously in this uncertain world. We need someone with plenty of experience,” the President said.

And experience is something that Sri Mulyani has plenty of having served as Finance Minister under two presidents, including during the first term of President Susilo Bambang Yudhoyono.

She was also appointed as the Managing Director of the World Bank Group in mid-2010, before returning to her previous post under Jokowi in 2016. 

Her no-nonsense approach proved crucial in providing a good balance between prudent state budget management and the president’s development ambitions, which saw many megaprojects concluded without bleeding the state coffers dry, say Jakarta Globe.

Jokowi admitted that in the cabinet reshuffle, political considerations were sometimes included.

“A reshuffle is a result of very careful considerations about the performance of a ministry or state agency, and how it serves the public. There is also a political consideration but it’s normally just a tiny part [of the decision-making process],” he said.

“There are many good people from political parties, as there are among professionals,” he added.

Source: Jakarta Globe

Latest Article
Indonesia, China Discuss Economic Cooperation
President Jokowi received an honorary visit from Wang Yi, the Minister of Foreign Affairs of the People’s...
President Meets Tony Blair, Discusses Energy Investment and Accelerating Digital Transformation
In a release published on the website of The President of The Republic of Indonesia, President Jokowi...
Kominfo: Microsoft to Invest in Indonesia
Usman Kansong, the Director General of Communication and Public Information at the Communication and...
USTDA Advances Smart City Solutions for Nusantara
A press release published by the U.S. Trade and Development Agency (USTDA) on Wednesday (17/4/24,) announced...
BI Expected to Raise Interest Rates as Rupiah Weakens
According to reporting from Jakarta Globe, Bank Indonesia (BI) is anticipated to increase its benchmark...

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.