Prabowo continues capital market reforms after MSCI proposal
DEN urged regulators to press ahead with enforcement so Indonesia can respond to a proposal to shift from emerging to standalone market.
President Prabowo Subianto decided to continue capital market reforms after receiving recommendations from the National Economic Council regarding an MSCI proposal that could change Indonesia's capital market classification from emerging market to standalone market. The recommendation was delivered at a limited meeting at Istana Merdeka, Jakarta, on Tuesday, attended by economic officials including Bank Indonesia Governor Destry Damayanti, Finance Minister Suahasil Nazara, Dony Oskaria, and Airlangga Hartarto. DEN Deputy Chair Mari Elka Pangestu said regulators need to carry forward the enforcement steps that have already been announced, because the legal framework is considered to provide room for firm action. Beyond MSCI, DEN also presented studies on El Nino-La Nina, digital social protection, downstream processing, fuel distribution, and free nutritious meals.