Prabowo gave no explanation for his move, and an expected official handover event between Indrawati and Purbaya on Monday evening at the finance ministry did not eventuate.
Indonesian President Prabowo Subianto abruptly replaced Sri Mulyani Indrawati as finance minister, risking renewed financial turmoil for Southeast Asia’s biggest economy following violent protests in recent weeks against his administration.
Purbaya Yudhi Sadewa, who has served as chairman of the Deposit Insurance Corporation since 2020, was sworn in as finance minister at a hastily-arranged ceremony late Monday. He said he is “a market person” who will keep Indonesia fiscally healthy.
