LPS assures routine KSSK coordination on economic developments

The Chairman of the Board of Commissioners of the Indonesia Deposit Insurance Corporation (LPS), Anggito Abimanyu, has stated that the Financial System Stability Committee (KSSK) routinely coordinates on macroeconomic and financial developments and related policies.

Responding to journalists’ questions following a limited meeting at the Presidential Palace complex in Jakarta on Monday, Anggito explained that the ministries and agencies within the KSSK continue to coordinate on macro and financial policies.

‘If we look at it, the coordination is actually done virtually. Every day, we have updates on macroeconomic and financial information,’ Anggito said.

Technical meetings are also held periodically by the parties within the KSSK, in addition to meetings held by the Minister of Finance, the Chairman of the Financial Services Authority (OJK), and the leaders of the LPS and Bank Indonesia (BI).

‘It is constantly updated and reported to the media once every three months,’ he added.

The KSSK itself consists of BI, the Ministry of Finance, the OJK, and the LPS. President Prabowo Subianto has now directed the KSSK to strengthen inter-agency coordination and to involve the Daya Anagata Nusantara Investment Management Agency (Danantara) in economic policy discussions.

This was confirmed by the Acting Governor of BI, Destry Damayanti, following the limited meeting.

‘We who were invited were the KSSK, plus Danantara earlier. So, the essence is how the KSSK continues and, within the KSSK itself, continues to enhance coordination and cooperation, particularly regarding policies where each of us has policies that we must coordinate,’ Destry stated after the meeting.

Destry added that President Prabowo emphasised the importance of enhancing coordination and cooperation among KSSK members, especially in aligning the policies under each institution’s authority.