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Armida, Gita shortlisted as candidates
Amid speculation about who will replace Finance Minister Sri Mulyani Indrawati, new names have emerged as promising contenders against frontrunners previously mentioned by legislators and analysts
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mid speculation about who will replace Finance Minister Sri Mulyani Indrawati, new names have emerged as promising contenders against frontrunners previously mentioned by legislators and analysts.
National Development Planning Minister Armida Alisjahbana is the latest in the shortlist of professionals deemed by analysts as a suitable replacement for Mulyani when she leaves her post for the World Bank on June 1.
Armida has extensive experience in public finance, labor economics, education economics and fiscal decentralization from her professional work as a university lecturer and a consultant to the World Bank.
If appointed, she would follow in Mulyani’s footsteps, as Mulyani headed the National Development Planning Agency (Bappenas) as it was then known, before becoming finance minister.
Other professionals touted by analysts are Bank Indonesia acting governor Darmin Nasution, Finance Ministry head of fiscal policy Anggito Abimanyu, Finance Ministry director general of budget Anny Ratnawati, Capital Market and Financial Institutions Supervisory Agency head A. Fuad Rahmany and Bank Mandiri president director Agus Martowardojo.
While expertise of fiscal and monetary management would be a basic requirement for a candidate, the ability to represent the country in prestigious international forums such as the G20 and APEC is a key leverage that will make a big difference, analysts say.
To achieve this objective, President Susilo Bambang Yudhoyono should opt for someone with strong integrity and who is a good public speaker and fluent in English, they say.
Indonesian Survey Institute researcher Burhanuddin Muhtadi said that judging by Armida’s track record and expertise, she could undoubtedly represent Indonesia and garner respect from international peers. However, he said, public speaking was not her strong point.
Another candidate, Investment Coordinating Board chairman Gita Wirjawan, has also been mentioned as a potential candidate by those familiar with his work in the finance sector and his vast network within the international community. Gita is a JPMorgan alumni who later founded his own investment firm, Ancora Capital.
“He has an advantage over Armida. He has a strong international network as a Harvard graduate,” Burhanuddin said, adding that nevertheless, because Gita was new to the administration, he was less familiar with the current bureaucracy reform in the Finance Ministry, thus was vulnerable to possible rejection.
Political observer Arbi Sanit favored Armida to Gita, saying the latter had yet to prove his expertise in fiscal and macroeconomic management.
“I think all candidates meet the criteria of being able to speak English and having international standards,” he said.
On Friday, Armida was asked by reporters for her response to being a possible candidate to replace Mulyani. She said the President had not contacted her.
“No, not yet ... In the Cabinet, we’re all the President’s aides. It’s the President’s prerogative [to name the replacement],” she said.
Also on Friday, Coordinating Economic Minister Hatta Rajasa said Mulyani’s replacement should not come from political parties.
“I have a personal view that a finance minister should not have political ties,” he said, adding that the President expected the new minister to continue bureaucracy reforms initiated by Mulyani.
