The removal of one of Indonesia’s most prominent financial and political figures in surprise Cabinet reshuffle could deepen risks for the economy and unnerve investors
[JAKARTA] Financial markets reeled after the sudden exit of Sri Mulyani Indrawati, the former World Bank managing director long regarded as one of Indonesia’s most credible technocrats and known for driving reforms, as well as keeping a tight rein on public finances.
The long-serving finance minister was replaced by economist Purbaya Yudhi Sadewa in an abrupt Cabinet reshuffle on Monday (Sep 8).
Analysts warn that her departure heightens risks for an economy already strained by public discontent over mounting economic pressures.
