Indonesian Finance Minister's Removal Unnerves Investors, Rupiah Tumbles

MACROECONOMICS - SINGAPORE. The abrupt removal of Indonesia's influential finance minister Sri Mulyani Indrawati has stunned markets, as investors fear the hard-fought fiscal credibility could be eroded by the populist spending plans under President Prabowo Subianto.

Global investors have viewed Sri Mulyani, one of Indonesia's longest-serving finance ministers in three different stints, as crucial to their bets in Southeast Asia's biggest economy and her previous departures sent markets tumbling.

Read Also: Indonesia Names Purbaya Yudhi Sadewa as New Finance Minister