BI Governor-Elect Awaits Government`s Decision on Redenomination

Jakarta, MINA – Bank Indonesia (BI) governor-elect, Perry Warjiyo, is waiting for the government`s decision on whether or not to propose a redenomination bill to the House of Representatives (DPR) this year., Antara News reported.

“It has been formulated and submitted to the government. The next process would be waiting for the government`s directives,” he stated here on Tuesday, after a DPR plenary meeting endorsing his election as BI governor for the 2018-2023 term.

The plan to redenominate the rupiah surfaced in 2010 when Darmin Nasution, who is currently the coordinating minister for economic affairs, was the BI governor.

In 2013, the concept of the redenomination bill was completed.

The plan to submit the redenomination bill resurfaced in 2017. But the government still remains undecided about submitting the bill to the parliament.

“We will give (inputs) to the government,” Warijiyo, who will assume the post of BI governor on May 24, 2018, remarked.

In 2017, the government, through Finance Minister Sri Mulyani Indrawati, decided to not submit the bill to the DPR as the fiscal authorities gave priority to the revision of the law concerning general provisions and taxation procedures.

BI Governor Agus Martowardojo met President Joko Widodo and asked him to submit the bill to the DPR, considering that the political and economic conditions are stable enough to discuss the redenomination. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)