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President names Agus Martowardojo
new finance minister

New Finance Minister: Agus Martowardoyo
New Finance Minister: Agus Martowardoyo

President Susilo Bambang Yudhoyono named on Wednesday Bank Mandiri president director Agus Martowardojo as the new finance minister, replacing Sri Mulyani Indrawati who has resigned.

The President also appointed Anny Ratnawati, Finance Ministry’s director general of budget, the deputy finance minister.

Yudhoyono said Agus, who has just been reelected Bank Mandiri president director, was deemed capable of taking up the ministerial job due his international exposure.

Agus was the President’s choice of Bank Indonesia governor in 2008, but was rejected by the House of Representatives.

Meanwhile, Anny was one of Yudhoyono's lecturers when he was finishing his doctorage degree at the Bogor Institute of Agriculture.

Agus, a gruaduate of the School of Economics at the University of Indonesia, is a long time banker. He started his banking career as an international loan officer at the Bank of America's Jakarta branch.

Then, he moved to Bank Niaga as vice president corporation and stayed there for eight years before he moved to Bank Bumiputera as president director in 1995. Three years later, he was appointed president director of state-owned Bank Expor Impor Indonesia. In 2005, he was appointed as president director of Bank Mandiri.

Meanwhile, Anny Ratnawati, born in 1962, earned all of her degrees at the IPB. She attained a bachelor’s degree in 1985, a master’s in 1989 and a doctorate in 1996. She has built her career as a bureaucrat at the Finance Ministry.

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