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Backgrounder
Tenggara Backgrounder October 27, 2023
POLITICS
New kid on the block Gibran straight into the bullfight
Defense Minister Prabowo Subianto, the frontrunner in the 2024 presidential election, created a significant buzz on Sunday with his well-predicted announcement of Gibran Rakabuming Raka, the Surakarta mayor for only two years and President Joko "Joko...
Kingmaker contest between Jokowi and Megawati
The announcement of Prabowo Subianto and Gibran Rakabuming Raka as the last presidential candidate pairing to be registered with the General Elections Commission (KPU) reveals a cold antagonism between sitting President Joko ‘’Jokowi’’ Widodo and for...
Indonesians unperturbed by return of nepotism in politics
The Constitutional Court’s recent ruling allowing the eldest son of President Joko ”Jokowi” Widodo to run in next year’s presidential election, in spite of being four years short of the minimum age set by the law, counts as among the most blatant dis...
Ex-Papua governor gets light sentence for graft
Former Papua governor Lukas Enembe was sentenced to eight years in prison after he was found guilty of accepting Rp 17.7 billion (US$1.11 million) in bribes and Rp 2 billion in gratuities throughout his term in office from 2013 to 2022. The Corruptio...
BUSSINES & ECONOMICS
BRI Forum: billion-dollar deals sealed, many on renewables
The Indonesia-China Business Forum, held on the sidelines of the third Belt and Road Forum for International Cooperation in Beijing last week, has produced cooperation agreements between Indonesian and Chinese companies totaling US$13.7 billion. The...
Indonesia turns to China for 1 million tonnes of rice amid El Niño woes
The government has opted to import up to 1 million tonnes of rice from China to reign in rising rice prices because of falling domestic rice production due to the El Niño weather phenomenon and limited import supplies. This import from China is strat...
OJK launches 2023-2027 insurance roadmap
The OJK has launched the roadmap to develop and strengthen the Indonesian insurance industry for the 2023 to 2027 period. The roadmap came after a slew of cases where insurance firms are involved in fraud cases and failure to pay its clients’ claims,...
BI raises interest rate amid declining foreign reserves, Rupiah depreciation
Following the Bank Indonesia (BI) board of governors meeting last week, the BI 7-day repo rate (7DRR) was increased for the first time this year. This decision was made following a concerning trend of weakening Rupiah exchange rate that began to acce...
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