Cabinet Reshuffle Shakes Up Indonesia’s Finance Sector
Sri Mulyani Indrawati, Indonesia's long-serving finance minister, was removed from her position during a cabinet reshuffle. She is praised for steering the economy through crises and reforming the taxation system. The announcement follows weeks of protests for fairer taxes and caused market fluctuations.
In a surprising turn of events, Indonesian Finance Minister Sri Mulyani Indrawati has been removed from her post, as confirmed by state secretariat minister Prasetyo Hadi during a cabinet reshuffle on Monday.
Despite her achievements, including tax system reforms and guiding Indonesia through economic crises, no successor has been named yet. Her removal has raised questions, especially given the recent public demonstrations demanding a fairer taxation system.
The stock market reacted to the news, with the main index dropping 1% and the rupiah stabilizing after initial gains. Previously, Mulyani served as a World Bank managing director and played pivotal roles in policy-making under three presidents.
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