BI's accountability<\/p>\n
Amendment of law No. 23\/1999 on Bank Indonesia (BI) has been
\ndelayed for a couple of year mainly due to BI's board of
\ngovernors' insistence in rejecting the Minister of Finance's
\nproposal to set up a supervisory board which would oversee the
\nperformance of this country's central bank.<\/p>\n
The Jakarta Post of Oct. 14 edition quoted the minister of
\nfinance as saying that the importance of setting up a supervisory
\nboard of governors was in a bid to strike a balance between the
\ncentral bank's independence and its accountability.<\/p>\n
What stuns us was BI's response that the plan be postponed by
\nat least five years. This means that the existing law which puts
\nthe board of governors' accountability almost untouchable, would
\nnot be shifted for at least five years.<\/p>\n
It is quite a pity that an independent and prestigious
\ninstitution in monetary sector like BI could not lead the
\ncountry to be more accountable and transparent to the public.
\nMoreover as this institution is now under Burhanuddin Abdullah's
\ngovernorship, a person who once had worked at IMF headquarters
\nfor years, could have led his institution to be the champion of
\ngood governance.<\/p>\n
Keeping this mind, one may guess that the BI's rejection to
\nendorse the Minister of Finance's plan would end up in financial
\nmisappropriation, and therefore the country's program of
\neradicating corruption leads to nowhere and may prolong for at
\nleast five years, if it could ever be started.<\/p>\n
M. RUSDI
\nJakarta<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bis-accountability-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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