SBY Shares Experiences of Leading Indonesia Through Global Crises

Jakarta, CNBC Indonesia — The 6th President of the Republic of Indonesia, Susilo Bambang Yudhoyono (SBY), has revealed the strategies that allowed Indonesia to survive the global crisis during his leadership. SBY stated that during his administration from 2004 to 2014, Indonesia faced various significant challenges.

During the global financial crisis of 2008, SBY noted that while Indonesia was not immune, it successfully navigated the period. This success was attributed to several key strategies, namely maintaining trust, fiscal prudence, supporting domestic demand, and ensuring good policy coordination.

“We learned that credibility is essential. In times of uncertainty, markets do not just listen to numbers, but also to the quality of governance,” said SBY during his speech at The 4th Perbanas International Conference on Economics, Business, Management, Accounting and IT (PROFICIENT 2026), held at the Perbanas Institute, Jakarta, on Tuesday (2/6/2026).

He continued by recounting his experience in rebuilding Aceh following the 2004 tsunami. SBY remarked that reconstruction was not merely about buildings, roads, and houses.

“It is about restoring dignity, rebuilding trust, and creating peace. Development becomes sustainable when the community feels they are part of that process. That is vital,” SBY remarked.

Furthermore, he noted that when Indonesia participated in global climate diplomacy, including the Bali Climate Conference in 2007, the nation learned that developing countries must be part of the solution.

SBY added that if sustainable development is Indonesia’s goal, there must be a clear foundation to achieve it. According to him, there are three essential pillars that must work in unison: policy, practice, and funding.