Global Institution Evaluations Become Momentum for Capital Market Governance Reform

Paramadina University held a virtual discussion on Tuesday (18 February 2026) titled “Prospects and Direction of Indonesia’s Capital Market Following MSCI and Moody’s” to discuss strategies for maintaining national investment stability.

Paramadina University Rector, Professor Didik J. Rachbini, assessed that the capital market holds a strategic position as the main gateway for global financing into the national real sector.

“The capital market is a great dam that irrigates business and serves as a direct connection between the domestic economy and the global financial system,” said Prof. Didik J. Rachbini.

Paramadina University economist Wijayanto Samirin presented data showing that Indonesia’s portfolio investment flows have faced significant pressure, with negative values of approximately USD 14 billion throughout 2025 to Q3 2026. This phenomenon is rare and demonstrates increasing caution among global investors regarding policy risks and domestic economic governance.

“The turbulence in the capital market is merely the surface, as the main issue lies in the quality of economic governance overall,” explained Wijayanto Samirin.