Businesses Call for Transparent BI Leadership Transition
The business community is closely observing the leadership change at the central bank after Perry Warjiyo stepped down as Governor of Bank Indonesia (BI). Chairwoman of the Indonesian Employers’ Association (Apindo) Shinta Kamdani expressed hope that the transition process would proceed transparently.
She said the business world respects Perry’s decision, who served for nearly two terms. “We are of the view that the leadership transition process at Bank Indonesia needs to be carried out properly, transparently, and in accordance with statutory regulations,” she stated on Monday, 27 July 2026.
Perry Warjiyo’s resignation was announced on Monday, 27 July 2026. Bank Indonesia stated that Perry relinquished his post voluntarily for personal reasons. Under the BI Law, the position automatically passes to the Senior Deputy Governor, Destry Damayanti.
Shinta argued that in such a situation, the most important thing for the business world is the preservation of policy continuity, institutional credibility, and market confidence in BI’s independence as the monetary authority. According to her, the most decisive factor is how quickly certainty regarding the transition process and policy direction can be provided to the market.
The main short-term effect, she said, is not a fundamental change to industrial activity, but rather increased market attention to the future policy direction. If the transition proceeds smoothly and policy communication remains clear, credible, and predictable, market volatility can be contained.
“Conversely, prolonged uncertainty has the potential to affect market sentiment, the exchange rate, funding costs, and investment decisions,” she said.
Macroeconomic stability is the primary foundation for business activity, particularly in the real sector. The business world requires controlled inflation, a relatively stable exchange rate, manageable funding costs, and policy certainty so that companies can make investment and expansion decisions with an adequate level of confidence.
Apindo hopes the process of appointing a definitive Bank Indonesia leadership will provide certainty. “As well as reinforce confidence that Indonesia’s monetary policy framework will continue to be conducted in a prudent, independent, and forward-looking manner.”
Meanwhile, State Secretary Prasetyo Hadi stated that President Prabowo Subianto has not yet determined a candidate to replace Perry Warjiyo. The President only received the resignation letter on 26 July 2026. Until a permanent leader is appointed, the BI leadership position will continue to be held by Destry Damayanti.