Norman Harsono

Indonesia has denied rumors of a plan to change the finance minister that circulated among market participants on Thursday.

The new head of Indonesia’s free meals agency will refocus the mission of President Prabowo Subianto’s flagship $15 billion program engulfed in a corruption scandal with an eye on budget efficiency and scaled-down plans.

Indonesian Finance Minister Purbaya Yudhi Sadewa defended his country’s economic track record amid a slump in the rupiah and stocks, pointing to inflows into the debt market as proof investors remain optimistic.

Indonesia spent much of this week confronting a question that might have seemed unthinkable a few short years ago: what happens when investors stop believing in Southeast Asia’s largest economy?

Grace Sihombing, Claire Jiao & Norman Harsono / Bloomberg

Indonesia has no plan to revamp its cabinet as of now, Minister of State Secretary Prasetyo Hadi said on Monday.

Jakarta aims to issue Indonesia’s first municipal bond within a year as part of efforts to diversify city revenue sources following budget cuts.

Indonesian sovereign wealth fund Danantara is exploring the sale of 30-year bonds following strong demand for its first ever global issuance.

Indonesia will exempt from legal and tax scrutiny purchases of bonds from sovereign wealth fund Danantara, a move the country’s finance minister said was designed to bring money back into the country without tracing its source.

Indonesia is requiring financial influencers to disclose paid promotions and obtain licenses to recommend assets as Southeast Asia’s largest economy joins a global movement to tighten oversight of the social media personalities.