Academia
Acting Bank Indonesia (BI) governor Destry Damayanti prepares to undergo a fit and proper test with House of Representatives Commission XI on Aug. 26 at the Senayan legislative complex in Jakarta, following her nomination to become the central bank's official head. ( (Antara/Rivan Awal Lingga)
Destry Damayanti has officially been appointed as the new Bank Indonesia (BI) governor, taking on the responsibility of navigating not only monetary policy challenges stemming from global instability and domestic economic pressures, but also a growing institutional challenge under President Prabowo Subianto’s administration. The revision of the Financial Sector Development and Strengthening Law (UU P2SK) has expanded BI’s mandate toward supporting economic growth alongside maintaining rupiah stability. This raises questions over the central bank’s autonomy as a monetary authority, as greater state influence and stronger fiscal policy priorities could constrain Destry’s ability to respond effectively to exchange rate and inflation pressures.House of Representatives Commission XI, which oversees finance and monetary affairs, approved Destry as BI governor for the 2026–2031 term following a fit-and-proper test. The commission also approved Aida S. Budiman as Senior Deputy Governor and Solikin M. Juhro as Deputy Governor. Commission XI expects Destry’s leadership to preserve economic stability while placing greater attention on real-sector growth, in line with the revised UU P2SK. The House argues that stable economic performance has yet to translate into stronger conditions for the middle class or domestic industries. As a result, BI is expected to pay greater attention to micro, small, and medium enterprises (MSMEs), the informal sector, and job creation.
