President Prabowo Chairs KSSK Meeting, Discusses Synergy to Maintain Financial Stability and Market Confidence

President Prabowo Subianto, Monday (7/27), chaired a meeting with members of the Financial System Stability Committee (KSSK) at the Merdeka Palace, Jakarta. Following the meeting, Acting Governor of Bank Indonesia, Destry Damayanti, conveyed the KSSK’s commitment to continuously strengthening coordination to maintain financial system stability.

“The point is that we are focusing on enhancing coordination and cooperation within the KSSK, particularly coordinating our respective policies,” Destry said in her statement.

She also expressed the KSSK’s support for the Government’s policy direction, adding that coordination between authorities will continue to be strengthened to align policies under the authority of each stakeholder.

“So, we discussed the improvements that can be done by each institution, such as Bank Indonesia (BI), Financial Services Authority (OJK), Deposit Insurance Corporation (LPS), and Ministry of Finance,” she added.

On the occasion, Destry emphasized the direction of Bank Indonesia’s monetary policy with rupiah exchange rate stability as the top priority. She said Bank Indonesia will be always present in the market through various instruments.

“We will always be present in the market, whether through spot, Domestic Non-Deliverable Forward (DNDF), or Non-Deliverable Spot (NDF) interventions. We will also continue our pro-growth policies through macroprudential policies,” she said.

In addition to maintaining stability, Bank Indonesia will also proceed with various policies to encourage foreign capital inflows. In accordance with the decision of the board of governors’ meeting last July, Destry said that Bank Indonesia will continue to provide incentives for capital inflows, including by reducing hedging costs.

“Therefore, the five of us, along with the other board of governors, will remain committed and continue to carry out our duties in accordance with the mandate given to us in Bank Indonesia,” she said.

Through strengthened coordination with the KSSK, led directly by President Prabowo, the Government affirms its commitment to maintaining the stability of the national financial system as a crucial foundation for maintaining market confidence, strengthening economic resilience, and promoting sustainable growth. (BPMI of Presidential Secretariat) (JAS/LW)