IHSG Plunges 33%, Purbaya Stresses Government Will Not Intervene

Jakarta - Finance Minister Purbaya Yudhi Sadewa has finally spoken out regarding the downward trend of the Jakarta Composite Index (IHSG). According to Refinitiv records, the IHSG has fallen by as much as 33% since the start of the year to the level of 5,802.17. Amid this falling index, Purbaya admitted there would be no special intervention from the government. He merely explained that economic conditions remain sound, which should serve as a foundation for stock price valuations. He claimed the Indonesian economy is quite good, and that this should underpin stock price movements. “From my side, there isn’t any (intervention). The important thing is I explain that our economic conditions are good and will continue to improve. That should be the basis for stock valuations,” Purbaya said on Thursday (4/6/2026). Purbaya cited the performance of PT Bank Rakyat Indonesia (Persero) Tbk, or BRI, which recorded growth in lending and profits. “If you look, BRI recently announced loan growth of over 13%. Its profitability growth was also over 13%, amounting to several trillions. So, there is indeed improvement there,” Purbaya explained. Previously, Purbaya stressed that the IHSG weakness was not caused by poor Indonesian economic fundamentals. He argued that the pressure on the IHSG was triggered by many negative rumours circulating in the public, including news that international ratings agency Standard & Poor’s (S&P) would downgrade Indonesia’s credit rating. “Because there are many negative issues, only we and China fell, if I’m not mistaken. So, I think there are many domestic rumours. Certainly, when S&P came here, there was a rumour that S&P would downgrade us,” said Purbaya.