This Observer Explains A Number Of Impacts If Sri Mulyani Resigns As Minister Of Finance

Minister of Finance Sri Mulyani. (Photo: ANTARA)

JAKARTA - A series of events happened to the Minister of Finance (Menkeu) Sri Mulyani Indrawati on Sunday, August 31, 2025. On Sunday morning, a video was spread showing her house being targeted by a group of people.

On the same day, news circulated that the State Treasurer submitted his resignation to President Prabowo Subianto from the Red and White Cabinet. Although, the news was eventually dismissed by the Coordinating Minister for the Economy Airlangga Hartarto.

So, what will be the impact if Sri Mulyani truly resigns from her position as Minister of Finance?

The public policy research and advocacy institute The Prakarsa assesses that Sri Mulyani is a person who is very much liked by the market and also global investors.

"Because according to policy, Mrs. Sri Mulyani is indeed very close to global investors, so to withdraw debt securities is very successful, yes. So, for example, the direction of her policy is indeed using a lot of debt, here the Minister of Finance Sri Mulyani does have the same expertise as the network from global investors," said the Research and Knowledge Manager of The Prakarsa Roby Rushandie in a public discussion entitled "Indonesia at Intersection: Inequality, Fiscal Reform and the Future of the Economy" online, Monday, September 1.

According to him, if Sri Mulyani really resigns from her position as Minister of Finance, it is feared that the financial market will fall.

"If I estimate if it really resigns, yes, the market will also drop the stock market, then the rupiah and the bond market," he said.

"Although of course this agrees or disagrees, we need to see later what the figure of Sri Mulyani's replacement is, yes," he continued.

In line with Roby, Executive Director of the Institute for Development of Economics and Finance (Indef) Esther Sri Astuti also said that the issue of Sri Mulyani's resignation will have an impact on the financial market.

"Regarding Mrs. Sri Mulyani who resigned, whether it had an impact on the market, yes, of course. I have explained earlier that the political announcement will empirically have an impact on the exchange rate and the JCI," said Esther.

"So, the possibility that Mrs. Sri Mulyani resigns will definitely have an impact on rupiah depreciation, yes, on the US dollar and of course the JCI. That's already proof because it's based on American Studies, yes," he concluded.

Meanwhile, Minister of Finance Sri Mulyani finally opened her voice after her private home in the Bintaro area, South Tangerang, became the target of mass looting on Sunday morning, August 31.

Through an upload on her personal Instagram account @smindrawati, Sri Mulyani thanked her for the sympathy, wise words and moral support given to her in dealing with the disaster.

Sri Mulyani understands that building Indonesia is a struggle that is not easy, steep and often dangerous.

"The nation's predecessors have also gone through that. Politics is a common struggle for the nation's collective noble goals, stick with noble ethics and morality," he said, quoted from his personal Instagram @smindrawati, Monday, September 1.

He said, as a state official, he was sworn in to carry out the 1945 Constitution and all laws.

"This is not a realm or personal taste. The law was drafted involving the government, DPR, DPD and public participation in an open and transparent manner," he said.

If the public does not agree and the constitutional rights are violated by the law, continued Sri Mulyani, a Judicial Review can be conducted to the Constitutional Court (MK). If the implementation of the deviant law can also bring the case to court until the Supreme Court (MA).

"It's a civilized Indonesian democratic system. Certainly not and not perfect. Our job is to continue to improve the quality of democracy in a civilized manner, not with anarchy, intimidation and repression," he explained.

According to him, hearing the aspirations of the community is part of leadership.

Sri Mulyani also expressed her gratitude to all elements of society, ranging from netizens, teachers, students to business actors who continue to provide criticism and input, even satire.

"Also prayers and enthusiasm for us to improve ourselves. That is part of the process of building Indonesia," he explained.

Menutup pesan, Sri Mulyani mengajak seluruh pihak untuk jaga dan bangun Indonesia bersama, tidak dengan merusak, membakar, menjarah, memfitnah, pecah belah, kebencian, kesombongan serta melukai dan mengkhianati perasaan publik.

"Kami mohon maaf, pasti masih banyak sekali kekurangan. Bismillah, kami perbaiki terus menerus. Semoga Allah SWT memberkahi dan melindungi Indonesia. Jangan pernah lelah mencintai Indonesia," tulis Sri Mulyani.

Closing the message, Sri Mulyani invites all parties to guard and build Indonesia together, not by destroying, burning, looting, slandering, fragmenting, hatred, arrogance and wounding the public's feelings.

"We apologize, surely there are still many shortcomings. Bismillah, we will fix it continuously. May Allah SWT bless and protect Indonesia. Never get tired of loving Indonesia," wrote Sri Mulyani.