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View all search resultsThe state asset fund will simply join next Monday's KSSK meeting as an "invitee" without voting rights, the finance minister has explained, citing the P2SK Law as permitting its participation, but at least two top economists are skeptical that its very presence and inputs might color the committee's decisions.
The planned Indonesia International Financial Center (PFII) will attract massive foreign capital inflows, the government has claimed, but economists view that as a long-term aspiration rather than a realistic near-term goal, pointing to the challenges of taking on global hubs with long-term track records.
The OJK expressed optimism on Friday that "strong banking capital resilience" would help serve as a buffer against the impacts of a weakening rupiah, after unveiling the industry's loan growth figures in April.
The uncertainty weighed on investor sentiment, with the Indonesia Stock Exchange (IDX) Composite Index slipping 0.46 percent on Tuesday, even as major Asian markets advanced on optimism that the Iran conflict may be nearing an end.
The bourse is racing against time as it tries to finish new rules on formalizing a minimum free float hike from 7.5 to 15 percent as part of its proposed solution to MSCI, with the Nyepi-Idul Fitri extended holiday just around the corner.
Friderica Widyasari Dewi has been formally appointed as OJK chair, alongside several other leaders, in an accelerated selection process to restore market certainty amid the Mideast war, according to the government.
Both Indonesia Stock Exchange (IDX) and the Financial Services Authority (OJK) have promised to act fast and change stock market regulations pursuant to points made by Morgan Stanley Capital International (MSCI) that prompted a massive sell-off.
The default rate of peer-to-peer lending in the fintech industry has worsened, with the ratio of 90 days past due (TWP90) loans to total loans standing at 4.33 percent in November, up from 2.52 percent in November 2024, according to Financial Authority Services (OJK) data.
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