Jakarta Minister Quits in Power Struggle |
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May 6, 2010
A lengthy power struggle at the top of the Indonesian government took a surprising twist yesterday when Sri Mulyani Indrawati, the finance minister and reform champion, resigned to take a senior position at the World Bank in Washington.
A lengthy power struggle at the top of the Indonesian government took a surprising twist yesterday when Sri Mulyani Indrawati, the finance minister and reform champion, resigned to take a senior position at the World Bank in Washington.
The Indonesian stock market fell 3.8 per cent on the news, its biggest drop in a year, amid fears the departure of the wellregarded minister could have long-term consequences for the country's booming economy and anti-corruption drive .
"It's a big loss for our country. She's been one of the best finance ministers we've ever had," said Edwin Sinaga, CEO of PT Financorpindo Nusa, the Jakarta brokerage. "Right now, I don't think we have the candidate to replace her ."
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