Saya forward berita ini. Just for an Info ! Salam, bRidWaN ----------- >Dow Jones Newswires >October 26, 1999 > >PROFILE: Indonesia's Finance Minister Unknown Quantity > >By GRAINNE MCCARTHY > >JAKARTA -- The appointment of Bambang Sudibyo as Indonesia's new finance >minister has sparked one major question in financial markets: who is he? > >A professor from Gadjah Mada University in Yogyakarta, Bambang is an unknown >quantity for Indonesia's financial markets. But that has its advantages, >market watchers say. > >"If he's not seen as having ties to anybody in particular, this will help," >said Song Sen Wun, economist at G.K. Goh in Singapore. > >"Rather than having any particular parties in a position to influence the >finance ministry, giving this post to an independent person may be the best >alternative," he said. > >The director of the executive MBA program at Gadjah Mada University, Bambang >has a PhD from the University of Kentucky. He's known to be close to National >Mandate Party leader Amien Rais, who also lectures at the university and >chaired the party's economic advisory board from Nov 1998 to April 1999. > >With Rais having been a major architect of President Abdurrahman Wahid's >cabinet, this link guaranteed Bambang the finance ministry seat, according to >sources. But it's not likely to affect his independence. > >For Bambang, the major task will be to quickly learn the political ropes at >the finance ministry, one of Indonesia's most important portfolios and win >market confidence. > >"The finance minister controls the purse strings," said Song. "This is a very >important post." > >Along with newly-installed senior economics minister Kwik Kian Gie, Bambang >will have to quickly assume the task of getting the country's International >Monetary Fund-led economic program back on track. > >Seen As Brilliant Economist > >The previous government's relations with the IMF were badly strained by the >Bank Bali corruption scandal, which centers around the transfer of funds out >of the nationalized bank to a company controlled by a senior Golkar official. > >The funds were allegedly used to help finance former President B.J. Habibie's >doomed presidential campaign. > >Bambang, a relatively young minister at 47, is a member of the board of the >Center for Strategic and Policy Studies in Yogyakarta and has the reputation >in Indonesia of having a brilliant economic mind. Whether he can bring this >experience from the lecture rooms into the heart of cabinet remains to be >seen. > >"I respect him a lot, and he's definitely smart," said a Jakarta bank analyst >and former classmate. > >"But we can't expect too much from the new economics team, only gradual >improvement in the economy." > >Along with Kwik, Bambang will represent Indonesia at major meetings abroad. >His urgent priorities will be to push ahead with bank and corporate >restructuring and begin to assemble the budget for the next fiscal year. > >With the cost of bank recapitalization to bear heavily on the budget, Bambang >will also have to begin the process of seeking outside finance. Along with >Kwik, he is expected to have to negotiate another sovereign debt >restructuring deal with the Paris Club of creditor nations. > >Indonesia's markets gave a muted reaction to his appointment, and to the >cabinet generally, with analysts noting that while long on credibility, the >new team's short on political experience. > >"I've never heard of (Bambang) and have no idea how he'll perform," said the >treasury chief at a foreign bank in Jakarta. > >-By Grainne McCarthy; 62 21 3983 1277; [EMAIL PROTECTED] > >(Simon Montlake in Jakarta contributed to this article)
