DEN’s Advice on MSCI Issue Received by President
JAKARTA — President Prabowo Subianto has received advice and recommendations from the National Economic Council (DEN) regarding MSCI’s latest announcement proposing a change in the classification of Indonesia’s capital market from an emerging market to a standalone market. DEN presented its recommendations directly to Prabowo at a limited meeting at Merdeka Palace in Jakarta on Tuesday (20 October 2026), attended by economic ministers and relevant officials, including Bank Indonesia Governor Destry Damayanti, Finance Minister Suahasil Nazara, State-Owned Enterprises Regulatory Agency head Dony Oskaria and Coordinating Minister for Economic Affairs Airlangga Hartarto.
“We advised continuing the capital-market reforms already under way, as well as the enforcement measures announced by regulators. Our laws already provide scope for firm action on this issue,” DEN Deputy Chair Mari Elka Pangestu said at a press conference after the meeting at Merdeka Palace on Tuesday evening.
MSCI was among the subjects discussed at the limited meeting between the government, Bank Indonesia and DEN at Merdeka Palace on Tuesday. DEN Chair Luhut Binsar Pandjaitan said the council presented its findings and recommendations, including on national economic preparedness for the effects of El Niño and La Niña, digital social protection programmes, accelerating downstream processing, fuel distribution governance, and its study of the free nutritious meals programme (MBG).
“We explained each item, as the Finance Minister, the BI Governor and the Coordinating Minister for Economic Affairs were there. We also verified the available data. I was very pleased that the President paid close attention to the economic data we presented,” Luhut said.
Luhut also said DEN was committed to providing President Prabowo and the government with credible, accurate data.
“Finally, I reported to the President that we would feed him accurate data, so that his decision-making would be based largely on evidence. I believe that with this data, decisions can be made much more accurately,” he said.