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resident Susilo Bambang Yudhoyono will name a new finance minister this week, ending speculation over the person responsible for the daunting task of steering fiscal policies at times when the economy is seeing slowing growth and soaring budget deficit.

The new minister will take over from acting Finance Minister and Coordinating Economic Minister Hatta Rajasa, who has been doing the additional role since last month.

According to Hatta, the new finance minister would be 'a member of the current Cabinet and has no affiliation with any political party'. He added that the name could be announced by the President within days.

'It is not possible for me to keep doing a double job like this, as my tasks as coordinating economic minister have already kept me extremely busy,' he told reporters on Monday.

The new finance minister would be a person with integrity who possesses knowledge in economics specifically in fiscal, budgeting and investments, he added.

Hatta, a close confidante of President Susilo Bambang Yudhoyono, was named interim finance minister after the President abruptly dismissed Agus Martowardojo on April 19 ' only one month before the latter's scheduled move to Bank Indonesia (BI), the central bank, as Agus had been named successor to incumbent Governor Darmin Nasution, whose term ends on May 23.

Based on clues mentioned by Hatta, leading candidates for the ministerial post include Investment Coordinating Board (BKPM) head M. Chatib Basri, Trade Minister Gita Wirjawan, National Development Planning (Bappenas) Minister Armida Alisjahbana and Deputy Finance Minister Anny Ratnawati and Mahendra Siregar.

Hatta, however, said that the new finance minister would be a 'man', making Chatib, Gita and Mahendra as the likely frontrunners.

Sources within the Cabinet and the central bank said that Chatib is the new finance minister in waiting.

Chatib was seen as a rising star in the country's academic world. The 47-year-old economist, who obtained his PhD from Australian National University (ANU), was the brain behind the nation's strong investment growth ' Indonesia realized total investments of Rp 313 trillion last year, surpassing its annual target of Rp 283 trillion, thanks to his reforms in BKPM.

Observers also see him as World Bank managing director Sri Mulyani Indrawati's protege. Chatib served as Mulyani's advisory staff during the latter's tenure as finance minister.

'Let's just wait for the announcement by the President himself,' the BKPM chief told The Jakarta Post when asked for confirmation.

Economists have warned that the new finance minister must be a strong fiscal guardian capable to resist pressure from politicians and politically wired businessmen who are likely to push for their benefits during the deliberation of the 2014 State Budget.

Although the appointment of a non-partisan figure as finance minister is a relief for the market, many believe that the decision is still influenced by politics nonetheless.

A. Prasetyantoko, an economist with Atma Jaya Catholic University, argued that the appointment might be a part of political deal struck by the President and leaders of political parties, as the former seek approval from the latter on his plan to hike the price of subsidized fuel.

 'Some opposition parties will be discontent if the new finance minister has any affiliation with political party,' he said on Tuesday. 'It's just politics, not economics.'