Economist: Chatib Basri has credibility to be new finance minister

Chatib Basri, head of the Investment Coordinating Board (BKPM), is being touted to replace Agus Martowardojo as Minister of Finance for the remaining roughly 1.5 years of the government’s term. The finance ministerial post is currently held on an interim basis by Hatta Rajasa.

Bank Mandiri’s chief economist, Destry Damayanti, views the possibility of Chatib becoming the new finance minister positively. “(Chatib Basri) has good credibility; in terms of credibility, he is more than capable,” said Destry at Plaza Mandiri, Jakarta, on Tuesday (14/5).

According to Destry, Chatib Basri already has extensive knowledge of the inner workings of government. “Although he has only recently entered government, he has long understood how government works, especially since he once served as special staff to Sri Mulyani,” she explained.

She added that as head of BKPM, Chatib Basri is regarded as having been successful in attracting investors to Indonesia. This is a point in favour of his track record.

“Moreover, he has been able to bring in foreign investors, which is good. It means that with 1.5 years, he can focus quickly,” Destry added.

The successor to Agus Martowardojo as the guardian of fiscal policy is indeed expected to quickly synergise with the duties of the finance minister, given the very limited time available to complete the policies previously implemented by Agus Martowardojo.