JAKARTA - Minister of Finance Purbaya Yudhi Sadewa appealed to the public, especially financial market participants, not to speculate about the nomination of Deputy Minister of Finance Thomas Djiwandono as Deputy Governor of the Bank Indonesia (BI).
According to Purbaya, the issue is not related to the weakening of the rupiah exchange rate that has occurred in recent times and confirms that the trend of rupiah weakening has taken place before the appointment of Thomas.
"The rupiah weakened before Mr. Thomas was appointed, so it's not an issue, there are other factors," he told the media, Thursday, January 22.
He added that at this time, the most important thing is the joint commitment between Bank Indonesia, the Ministry of Finance, and all government elements to maintain exchange rate stability.
"We believe that the Central Bank has the right strategy. Our economic fundamentals continue to improve and will improve further. So don't worry," he said.
Responding to a question regarding whether there were special instructions from Dasco regarding the rupiah, Purbaya ensured that there were no special instructions and that the discussion was limited to the overall economic conditions.
"No. He only discussed the overall economic condition and agreed that the rupiah should be stronger. There is no need to worry that the rupiah will trigger an economic crisis. Our fundamentals are still very good, the policy is in sync with the monetary authority," he explained.
Purbaya is optimistic that economic growth will accelerate, so that it can encourage the entry of foreign investors so that it will strengthen the rupiah exchange rate as well as the capital market.
"The capital market is a flag for global investors. If the capital market is strong, investors will look, see the economic foundation, and then enter. So don't think that the movement of the capital market is not important. FDI will start to enter a lot," he said.
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