Prudent approach: Purbaya sings the national anthem during the handover ceremony from his predecessor Sri Mulyani. All eyes are now on whether he can convince investors that he will maintain fiscal discipline and central bank independence. — AFP
JAKARTA: Just a few months before being named Indonesia’s new Finance Minister, Purbaya Yudhi Sadewa, raised eyebrows in markets by calling the International Monetary Fund (IMF) “stupid” for cutting its growth outlook for South-East Asia’s largest economy.
“Don’t believe the IMF. If you want economic prediction, ask me. I know better,” he said, even though the lender’s 2025 gross domestic product (GDP) growth forecast of 4.7% was largely in line with analysts’ expectations and reflected global uncertainty.
