TEMPO.CO, Jakarta - Bank Indonesia (BI) Governor Agus Martowardojo was awarded as as "Governor of The Year" in East Asia by Global Markets, a newspaper which is part of Euromoney Institutional Investor.

The award was presented due to policy transformatios implemented by the central bank.

BI claimed that Global Markets highlighted policy transformation under the lead of Agus Martowardojo that is considered to be able to boost transparency to cater to public’s expectation.

In addition, Global Markets also highlighted transformation in the form of changes of interest rates policy from "Bank Indonesia Rate/BI Rate" to"BI 7-day Reverse Repo Rate" which is deemed to make interest rates more relevant and transactional.

"A change of policy from daily primary reserve requirement ratio (GWM) to biweekly average GWM is also one of the recognized transformations executed," BI explained.

Another transformation is BI’s effort to boost financial market exploration.

The ceremony of the award was held in Washington DC, the United States on October 14, 2017. In the ceremony, BI Governor accepted the award with other recipients from other categories, such as Ilan Goldfajn from Brazil (Latin Amerika category), and Tarek Amer from Egypt (Middle East and North Africa category).

ANTARA