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View all search resultsThe surprise appointment of Deputy Finance Minister Anggito Abimanyu as chairman of the Deposit Insurance Corporation (LPS) marks a clear break from established selection procedures and casts uncertainty over President Prabowo Subianto’s plan to create a separate revenue collection agency.
Indonesia’s financial sector is resilient enough not to buckle even under extreme scenarios for the global economy, according to the latest stress tests conducted jointly by Bank Indonesia (BI), the Finance Ministry, the Financial Services Authority (OJK) and the Deposit Insurance Corporation (LPS).
Many factors, including the highly capable and competent LPS, indicate that the SVB bust will not have a significant impact on either the Indonesian or global financial system, so long as we take our lessons from the event.
The government and the House of Representatives have reinstated a ban on party politicians running for executive posts at the country's monetary or financial institutions, which was eliminated in the 2004 revision of the Bank of Indonesia Law.
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