Govt Acknowledges Financial Reform Plans, Claims BI Independence Unaffected



Laila Afifa

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  • TEMPO.CO, JakartaThe executive secretary of the committee on the handling of COVID-19 and the national economic recovery (KPC PEN), Raden Pardede, admitted on Wednesday that the plans to reform the national financial system does exist. He defended that it was mainly due to the uncertain end to the global COVID19 pandemic. 

    However, during a webinar session on September 23, he revealed that the final form of the regulation was yet to be confirmed. 

    “Our financial sector may be affected in the coming years, this is why we are making preparations,”  said Raden Wednesday, September 23. 

    Upon confirming the planned financial system reform, Raden assured that it would not hinder or have an effect on Bank Indonesia’s independence. He also denied that the government was forming a monetary board as several rumors have suggested. 

    “The government does not have any plans to form a monetary board,” he confirmed. 

    Previously reported, a number of economists expressed anguish after suspecting the government of preparing a regulation in lieu of law to reform the country’s financial system. Rumors suggested it was aimed to mitigate the effects of the COVID-19 pandemic.