A myriad of PR awaits Thomas Djiwandono

JAKARTA - Commission XI of the Indonesian House of Representatives officially appointed Thomas Djiwandono as Deputy Governor of the Bank Indonesia (BI) for the 2026-2031 term.

A myriad of homework awaits Prabowo Subianto's nephew.

Airlangga University (Unair) Economics Professor Rahma Gafmi said that Thomas Djiwandono will immediately face a number of major homework (PR), ranging from maintaining monetary stability to restoring market confidence in the midst of sensitive domestic dynamics.

The challenge is not easy, especially when the market is scrutinizing the nomination process for the head of the central bank.

Rahma explained that the main task that must be immediately completed is to maintain monetary stability.

This includes controlling inflation to remain within the target of 2.5±1 percent.

Monetary policy, he said, must remain oriented towards stability so that people's purchasing power and business actors' confidence remain maintained.

Apart from inflation, the stability of the rupiah exchange rate is also a crucial concern.

"Maintaining a stable rupiah exchange rate in accordance with economic fundamentals and optimizing pro-market monetary instruments, such as SRBI, SVBI, and SUVBI to strengthen the effectiveness of monetary policy," said Rahma as quoted by ANTARA, Monday, January 26.

He also highlighted the importance of communication and policy coordination between BI and the government.

Because, a strong synergy is considered necessary to maintain macroeconomic stability while encouraging sustainable economic growth.

On the other hand, coordination with the Financial System Stability Committee (KSSK) must be strengthened to mitigate various risks that have the potential to disrupt the stability of the national financial system.

Not only that, macroprudential policies also need to continue to be optimized so that the financial sector can support economic growth without sacrificing stability.

Previously reported, Deputy Minister of Finance Thomas Djiwandono as Deputy Governor of Bank Indonesia (BI) for the 2026-2031 term.

The decision was made through a consensus deliberation mechanism after Thomas underwent a series of fit and proper tests.

Based on monitoring, the meeting of Commission XI of the DPR RI which was attended by Thomas ended at around 17.42 WIB.

Less than 10 minutes later, Commission XI immediately made a decision that Thomas was elected as Deputy Governor of the BI.

Chairman of Commission XI of the Indonesian House of Representatives, Mukhamad Misbakhun, explained that the decision was made after all members of Commission XI held an internal meeting which was initiated by a leadership meeting.

He added that the meeting was fully attended by the leadership of Commission XI as well as eight factions (poksi).

"The Commission XI of the Indonesian House of Representatives has just held an internal meeting, starting with a leadership meeting, namely the leadership of Commission 11 together with the leadership of the poksi-poksi, from 8 complete poksi present and the leadership is also complete," he explained to the media, Monday, January 26.

"It was then agreed through the musawarah mufakat process and then included in the internal meeting of Commission XI. That it is needed to be the Deputy Governor of Bank Indonesia, the replacement for Mr. Juda Agung who resigned is Mr. Thomas AM Jiwandono and today we agreed to decide together to be the decision of Commission XI in the internal meeting and later will be brought to the DPR RI to be ratified in the plenary session tomorrow," he added.

According to him, one of the main considerations is the figure of Thomas who can be accepted by all political party factions in Commission XI of the DPR RI.

"The consideration is that Mr. Thomas is a figure that can be accepted by all political parties," he said.

In addition, Thomas is considered able to present his views comprehensively, especially regarding the importance of synergy between monetary policy and fiscal policy in promoting economic growth.

"Mr. Thomas' figure also explained it very well. About how it is necessary to build synergy between monetary policy and fiscal policy. So that provides reinforcement for what economic growth is like and how to build agility in this decision-making process and according to me it is indeed a strong issue at this time. How to build synergy that mutually strengthens monetary policy and fiscal policy," he explained.

Misbakhun also assessed that Thomas' closing statement in the eligibility test further strengthened his commitment to the professionalism and independence of Bank Indonesia.