Thursday, 05 April 2018 14:44

Great Hope for New Governor of Bank Indonesia

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Great Hope for New Governor of Bank IndonesiaThe House of Representatives -DPR has officially appointed Perry Warjiyo as Governor of Bank Indonesia –BI for the period 2018 - 2023 in a plenary session taking place last Tuesday (3rd of April). Perry Warjiyo's appointment process was quite smooth, because after undergoing a fit and proper test by Commission XI at the DPR, 10 factions were actively approving the single candidate proposed by President Joko Widodo. This means that all factions in the House were fully confident of Perry Warjiyo's capacity to become the new governor of Bank Indonesia for the next 5 years.

Indeed, Perry Warjiyo, who was a farmer and born 59 years ago in Sukoharjo, Central Java, will only serve his governorship of Bank Indonesia on next May 23rd, 2018, after the current position of Governor of Bank Indonesia, Agus Martowardoyo officially ends. However, a lot of homework and expectations are waiting for the man who has started his career at Bank Indonesia since 1984. Moreover, the performance of Bank Indonesia over the last 5 years under the leadership of Agus Martowardoyo is considered successful enough to maintain the national economic stability of the global economic turmoil. Perry Warjiyo will continue Bank Indonesia’s leadership which over the last five years has received a good "label" both domestically and globally. Even last year, Governor Agus Martowardoyo was awarded as the best central bank governor in Asia Pacific based on an international institution.

Thus, Warjiyo must be able to prove that President Joko Widodo's choice of him is not wrong. Perry must prove the trust of the DPR and must be able to prove that he can work better than the performance of the previous governor of BI. Certainly, we do hope that for a few decades of experience as an internal man of Bank Indonesia, and having held the position of one of IMF International Monetary Fund Executive Directors, Perry Warjiyo will be able to answer the expectations of many stakeholders. Maintaining the monetary conditions in the country becomes one of the heavy tasks faced by Perry. Macro-economic stability, inflation control and rupiah exchange rate will be the wishes of all stakeholders to be maintained. At the same time, another severe task is how Bank Indonesia can support policies that encourage Indonesian economic growth.

Maintaining the influence of the global economic turmoil is also a serious challenge to be faced by Perry Warjiyo when later he officially serves as governor of Bank Indonesia. Trade war that has occurred between the United States and China more recently may bring about impact on the domestic and regional economy. Perhaps, the closest challenges to be faced Perry Warjiyo as the new chief of Bank Indonesia are the simultaneous elections and the stages ahead of the legislative and presidential elections. In these political years -2018 and 2019, the stability of the rupiah, the stability of the economy and the enormous amount of money in circulation must be maintained in order not to influence the implementation of the democratic festivity. May the great hope of the new governor of Bank Indonesia be realized for monetary stability and positive economic growth! Congratulations to Mr. Perry Warjiyo! (danang prabowo)

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