Bank Indonesia Has Been Named The Best Macroeconomic Regulator In Asia Pacific

Illustration (Photo: Doc. Antara)

JAKARTA Bank Indonesia (BI) is said to have won the title as the best macroeconomic regulator in the Asia Pacific region. This is evidenced by the achievement of the award as The Best Macroeconomic Regulator in Asia Pacific 2023 from The Asian Bankers.

Head of the BI Communication Department Erwin Haryono said this was the umpteenth appreciation after previously Bank Indonesia had successfully received an award in a similar category several years ago.

"Bank Indonesia views this award as a form of international recognition," he said in a written statement on Wednesday, June 14.

According to Erwin, the joint government policy mix will further strengthen resilience, accelerate recovery, and encourage the revival of the national economy.

"The Asian Bankers in their assessment view that Bank Indonesia shows an advantage in managing the economy so that it manages to maintain Indonesia's macroeconomic stability in the midst of high global uncertainty conditions," he said.

Meanwhile, the three main aspects are the consideration of The Asian Bankers' decision. First, BI's consistency in pursuing a monetary policy mix supported by synergy and policy coordination with the government.

Second, Bank Indonesia consistently takes front-loaded, pre-emptive, and forward looking monetary policy to achieve the 3 percent plus-minus 1 percent inflation target.

"And the third is to strengthen the policy of stabilizing the rupiah exchange rate as part of efforts to control inflation," said Erwin.

For information, The Best Macroeconomic Regulator in Asia Pacific Award is an award to the central bank that excels in its role in maintaining macroeconomic stability.

The award was organized by The Asian Banker as one of the leading banking intelligence providers since 1996, which has conducted regular assessments of the achievement of central banks and financial services regulators in Asia Pacific, Middle East, and Africa.

The following is a list of awards from The Asian Banker to Bank Indonesia since 2020.

1. The Best Macroeconomic Regulator in Asia Pacific in 2020

2. Best Systemic and Prudential Regulators in Asia Pacific in 2021

3. Best Conduct of Business Regulator in Asia Pacific in 2022

4. The Best Macroeconomic Regulator in Asia Pacific, in 2023