Home / Knowledge / News / Textiles / Indonesia's president reshuffles cabinet to boost growth
Indonesia's president reshuffles cabinet to boost growth
13
Aug '15
Darmin Nasution/C: merdeka
Darmin Nasution/C: merdeka
In a bid to arrest the economic slowdown, Indonesian President Joko Widodo has put two experienced technocrats into economic management posts in a cabinet reshuffle. The exercise is aimed largely to reassure investors worried about economic growth that has slipped to a six-year low, according to media reports.

The Cabinet shake-up came amid increasing public dissatisfaction with the lagging performance of Indonesia's economy since Jokowi took office nearly ten months ago. Southeast Asia's largest economy grew 4.7 per cent in the second quarter, the slowest since 2009.

Widodo has come under mounting pressure from his own party and the public to reshuffle his cabinet amid signs that efforts to reverse an economic slowdown are not working.

Darmin Nasution, who was central bank governor from 2010 to 2013 and received his doctorate from the Sorbonne in Paris, was chosen to replace Sofyan Djalil as chief economic minister.

The 66-year-old pledged to tackle rising food prices and streamline import policy to shore up confidence at a time when the government has faced criticism for adopting protectionist measures.

Nasution told reporters a top priority would be to improve data accuracy when setting food policy.

Another unexpected choice was the appointment of Harvard-educated financial executive Thomas T. Lembong as trade minister. Chief executive of Quvat Management, a Singapore-based private equity firm that invests in Indonesia, Lembong previously worked at Deutsche Bank and Morgan Stanley.

Lembong was a senior vice president at the Indonesian Bank Restructuring Agency that was set up to revive the banking system after the Asian financial crisis in 1998. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

PVH, WWF tie up to protect water bodies in Ethiopia, India

Apparel/Garments | On 23rd Apr 2018

PVH, WWF tie up to protect water bodies in Ethiopia, India

PVH Corp , parent company of brands like Tommy Hilfiger, Calvin...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Urmil Arya

Sushila International, a well established textile organisation established ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search