The panel recommended a new Monetary Board to include the finance minister, a minister in the economic sector, the central bank’s board of governors and the chairman of the Financial Services Authority (OJK).
JAKARTA: Indonesia’s central bank should have its mandate expanded to include economic growth and give ministers the right to vote at policy meetings, a panel advising parliament said, recommending the biggest shake-up of the monetary authority in two decades.
The panel of experts presented yesterday the proposed bill to parliament’s legislative body (Baleg), which will discuss it and prepare an academic paper after more consultation, said Baleg deputy chairman Achmad Baidowi.
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