"I would not like to comment on the reshuffle, but I am convinced if the president has replaced his ministers, he must have studied and evaluated all aspects carefully," the central bank governor stated.
Jakarta (ANTARA News) - Bank Indonesia (BI) Governor Agus Martowardojo chose to not comment on the second round of the working cabinet reshuffle, saying President Joko Widodo must have first conducted a careful study to boost the nations development.

"I would not like to comment on the reshuffle, but I am convinced if the president has replaced his ministers, he must have studied and evaluated all aspects carefully based on the need to make Indonesia more advanced in future," the central bank governor stated at Kalibata here on Wednesay.

Martowardojo remarked that, so far, the market stability could be maintained well amid reports on the cabinet reshuffle on Wednesday.

"Financial market stability continues to remain normal and conducive," he noted.

The financial market has responded favorably since the discourse on the cabinet reshuffle on Tuesday (July 26).

Indonesias Composite Index at the Indonesian Stock Exchange on Wednesday morning strengthened by 21.01 points at the start of the trading session. The increase was in line with the rise in stock prices in the Asian region.

Chief analyst at NH Korindo Securities Indonesia Reza Priyambada pointed out that market players, since the past several days, were waiting for certainty in terms of the cabinet reshuffle, which was scheduled to be announced on Wednesday.

The same also held true for the money market. The rupiah interbank exchange rate in Jakarta on Wednesday morning strengthened by 40 points to Rp13,125 per US dollar as compared to Rp13,165 earlier.

Samuel Securitas economist Rangga Cipta stated that the investors had adopted a wait-and-watch approach with regard to the realization of the tax amnesty program and the change in the cabinet line-up.

President Joko Widodo had announced the change in the line-up of his cabinet at 11 a.m. local time on Wednesday.

The president said the reshuffle has been conducted to improve the efficiency of the cabinet and to install a strong team whose members mutually support each other.

"A spirit of change is to give concrete benefits that could be felt by the community. After this, at 1:30 p.m. local time, (they) will be installed and will immediately start work by joining a plenary meeting," President Widodo affirmed while announcing the new cabinet line-up.

The meeting was held to discuss two main issues: the presidents directives on the Budget Quota and State Budget Plan for 2017.

The positions of the following four ministers have been swapped:

1. Luhut Binsar Pandjaitan has switched roles from coordinating minister for politics, law, and security to coordinating minister for maritime affairs,
2. Bambang Brodjonegoros portfolio has been changed from finance minister to head of the National Development Planning Agency (Bappenas),
3. Sofyan Djalil, who earlier helmed Bappenas, will now assume the post of spatial planning and agrarian minister/head of the Agrarian Agency,
4. Trade Minister Thomas Lembong will henceforth head the Investment Coordinating Board.

President Widodo also introduced nine new ministers:

1. Wiranto as coordinating minister for politics, law, and security, replacing Luhut Binsar Pandjaitan,
2. Sri Mulyani Indrawati as finance minister, replacing Brodjonegoro, who has been appointed as the Bappenas head,
3. Eko Putro Sanjoyo as disadvantaged regions and transmigration minister, replacing Marwan Jafar,
4. Budi Karya Sumadi as transportation minister, replacing Ignasius Jonan,
5. Muhadjir Effendi as education minister, replacing Anies Baswedan,
6. Enggartiasto Lukita as trade minister, replacing Thomas Trikasih Lembong, who will serve as chairman of Indonesias Investment Coordinating Board, replacing Franky Sibarani,
7. Airlangga Hartanto as industry minister, replacing Saleh Husin,
8. Archandra Tahar as energy minister, replacing Sudirman Said,
9. Asman Abnur as administrative and bureaucratic reform minister, replacing Yuddy Chrisnandi.(*)

Editor: Heru Purwanto
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