Election of BI governor

Election of BI governor

From Media Indonesia

For the first time in the history of the central bank, Bank Indonesia (BI), its governor will be elected on the basis of an agreement between the government and the House of Representatives. The election process is based on the new Law No. 23/1999 on Bank Indonesia. Clearly, all this shows that Bank Indonesia is an independent state institution free from any intervention from the government or any political parties.

On Feb. 17, 2003, President Megawati Soekarnoputri submitted to the House the names of three candidates: Miranda S. Goeltom, presently deputy BI governor, Burhanuddin Abdullah, former coordinating minister for the economy, and Cyrillus Harinowo, a former BI high-ranking officer. Law No. 23/1999 stipulates that the president must submit three to five candidates to the House three months prior to the end of the incumbent BI governor's tenure. Present BI governor Syahril Sabirin's tenure will end on May 17, 2003.

The election of a new BI governor is an ordinary process, but because this position is strategically important, the election process must not be politicized.

We need a BI governor with a good track record and integrity to ensure that BI can maintain its independent position. A BI governor with these qualifications will help pull the country out of the protracted economic crisis and help create sound monetary policies.

If this election process can take place smoothly, it will go a long way toward solving the country's big problems, particularly in the economic sector.

SYAHRUL ALI Jakarta