Jakarta \u2014 Indonesia\u2019s financial markets face considerable challenges\nfollowing reports from global rating agencies such as Investors Service\nand Fitch Ratings, alongside the freeze on rebalancing indices for\nsecurities from Morgan Stanley Capital International (MSCI).<\/p>\n
This was acknowledged by Friderica Widyasari Dewi, prospective member\nof the Financial Services Authority (OJK) Board of Commissioners, during\nher fit and proper test before Commission XI of the House of\nRepresentatives on Wednesday, 11 March 2026.<\/p>\n
Moody\u2019s downgraded Indonesia\u2019s credit rating outlook from stable to\nnegative, though it maintained the long-term rating at Baa2 (investment\ngrade). Similarly, Fitch Ratings revised Indonesia\u2019s credit rating\noutlook to negative from previously stable, whilst maintaining the BBB\nrating for Long-Term Foreign-Currency Issuer Default Rating (IDR).<\/p>\n
MSCI rebalancing results are frequently used by global investors to\nmeasure stock market performance across various countries, including\nIndonesia. The MSCI index serves as a reference point for investment\nmanagers, pension funds, and global funds in determining their\ninvestment allocations.<\/p>\n
Friderica stated that OJK has undertaken direct communication with\nMSCI and various global rating agencies to explain the reform measures\nbeing undertaken in the financial market, particularly at the Indonesia\nStock Exchange (IDX).<\/p>\n
\u201cRegarding MSCI and also Fitch and several global rating agencies, we\nhave already met with them, and whilst MSCI has accepted the proposals\nwe submitted, they cannot immediately accept them, but rather observe\nhow consistently we fulfil the proposals we have made,\u201d Friderica\nsaid.<\/p>\n
She explained that OJK\u2019s primary challenge at present is ensuring\nthat all planned reforms can be implemented consistently and\nsustainably. \u201cThe challenge is how we ensure the fulfilment of the\nproposals we have submitted,\u201d she stated.<\/p>\n
According to her, the regulatory reform measures undertaken to\nimprove the market have been presented to these rating agencies, and she\nconfirmed that the response from global rating agencies has been\nsufficiently positive.<\/p>\n
She expressed hope that through the reforms being implemented,\nIndonesia will not only be able to maintain its existing credit rating\nbut also improve global investor perceptions regarding the stability of\nthe national financial system.<\/p>\n
Friderica herself is championing eight priority policies as a\nstrategic architecture for strengthening the national financial services\nsector. She believes the eight policies are designed to ensure that the\nfinancial services sector in Indonesia is not only stable but also\ntrustworthy, inclusive, and contributive in supporting national economic\ndevelopment.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ojk-candidate-friderica-reveals-major-market-challenges-following-msci-freeze-1773215551", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }