TEMPO.CO, Jakarta – Minister of Finance Sri Mulyani Indrawati was also summoned by President-elect Prabowo Subianto to Kertanegara. Sri Mulyani, who is familiarly called Ani, said that President-elect Prabowo had asked him to continue serving in the next cabinet as Minister of Finance. Analysts said this news was a positive sentiment for the market.
Currency and commodities observer Lukman Leongarga noted that there was a quite positive response, both in the equity and rupiah markets. “The short-term impact is quite large, it is observed that the rupiah can still survive and strengthen against the US dollar which is also still strengthening,” said Lukman to Tempo, Wednesday, October 16 2024.
However, he continued, the long-term impact is also determined by Bank Indonesia policy factors which are important in influencing the direction of the rupiah’s movement.
“So it’s more about sentiment, at least investors assume that not much will change in the government’s financial policy if the same minister is still in office,” he said.
Mirae Asset Sekuritas analyst, Nafan Aji Gusta, said the signal that Sri Mulyani returning as Minister of Finance could be a positive catalyst for the current market. Because, said Nafan, the former Managing Director of the World Bank was seen as the most appropriate figure to fill this position, not only in national circles but also internationally.
“The hope is that investors are like that. Because in my opinion there is no doubt about Mrs. Sri Mulyani’s credibility. Of course, this is also a positive catalyst for market right now,” he said.
For trading this afternoon, the rupiah exchange rate against the US dollar strengthened 78.5 points or 0.50 percent. Quoting Asia Pacific currency exchange rate data from Bloomberg, the rupiah closed at Rp. 15,510 per US dollar.
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Previously, Sri Mulyani revealed that she was being asked to become Minister of Finance again after being summoned to Prabowo’s residence on Jalan Kertanegara Number 4, Kebayoran Baru, South Jakarta on Monday, October 14 2024.
Sri Mulyani arrived at around 19.29 and left at 20.28 WIB. “I discussed for quite a long time with Pak Prabowo, in forming the cabinet, he asked me to become Minister of Finance again,” he told reporters.
When asked whether she accepted Prabowo’s request to become Minister of Finance again, Sri Mulyani did not answer clearly. However, he said he was ready to help Prabowo’s government in the future.
“Earlier we discussed steps to strengthen the Ministry of Finance to be able to support his programs,” said Sri Mulyani.
Son is here contributed to writing this article
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Sri Mulyani Indrawati: The Financial Minister Who Just Won’t Leave!
Jakarta – Well, folks, it looks like the only thing more permanent than some of our favorite reality show contestants is Sri Mulyani Indrawati being summoned by the newly minted President-elect, Prabowo Subianto. Yes, the woman affectionately known as Ani (which could also stand for “Absolutely Never Leaving”) has been asked to play the role of Minister of Finance once again!
According to the report from TEMPO.CO, this news has sent ripples of positivity through the market. Analysts are drinking the Kool-Aid, declaring this as a solid signal that the financial ship won’t be capsizing anytime soon. But let’s face it: anything else would be a bit of a plot twist worthy of a soap opera!
Currency and commodities guru Lukman Leongarga weighed in, stating, “There’s a quite positive response.” A positive response?! Only if you don’t count the many customer service calls I get after my jokes! He mentioned the rupiah appears to be strutting its stuff, managing to stand proud against its US counterpart even as that dollar decides to bulk up a bit. It’s like watching a middle-aged dad hit the gym and suddenly find his old high-school moves again—unexpected but admirable!
Now, Lukman was quick to point out that while short-term confidence is high, long-term sustainability is about as reliable as a British summer—dependent on multiple factors, including the ever-mysterious Bank Indonesia policies. So hold onto your wallets, folks; there’s no telling what could happen after the initial glow wears off!
Analyst Nafan Aji Gusta chimed in with enthusiasm, characterizing Sri Mulyani’s return as a “positive catalyst.” Who wouldn’t want to be compared to something that’s positively catalytic? Very scientific! It appears everyone’s on board the Sri Mulyani train, fearing that if she doesn’t take the reins again, we might be left with a less-than-stellar substitute. “I mean, we’re no longer in a world where anyone could just waltz in with a briefcase and call themselves a finance minister,” he adds. Let’s hope he’s right because this isn’t just a dress rehearsal!
And what’s this? The rupiah managed a gain of 78.5 points against the US dollar, closing at a respectable Rp. 15,510 per dollar. That’s the kind of news that could make a financially savvy parent proud—let’s just hope they don’t start depositing their allowance in a 529 plan anytime soon!
Sri Mulyani herself was tight-lipped about confirming her role, almost leaving us hanging like a suspenseful movie ending. After a chat at Prabowo’s fancy digs, she said, “I’m ready to help Prabowo’s government.” That’s great—let’s just hope ‘help’ doesn’t mean balancing the national budget with a rubber band and a Chinese finger trap!
In closing, the financial world watches with bated breath as we wait for the next twist. Will Sri Mulyani indeed take the helm once more and lead us to fiscal glory? Or will this just be another government reality show that leaves us waiting for the next season? Only time will tell, but one thing is for sure: she’s got the qualifications. And after this news, her inbox is going to be flooded with job offers like it’s 1999 again!
Stay tuned, savvy investors! The saga continues!
