Indonesia Replaces Finance Minister in Bid to Restore Investor Confidence

Indonesian President Prabowo Subianto replaced Finance Minister Purbaya Yudhi Sadewa with Deputy Finance Minister Suahasil Nazara on Monday, September 14, 2026, in a cabinet reshuffle aimed at restoring investor confidence amid fiscal policy concerns. The appointment, made under Presidential Decree 97P/2026 at the State Palace in Jakarta, marks the second change at the powerful finance ministry in less than a year. Nazara, a 55-year-old technocrat who has served as deputy finance minister since 2019, was sworn in during a ceremony broadcast on national television. He pledged to maintain fiscal discipline, stating his priority is to run a credible state budget and keep the deficit below the legislated limit of 3% of GDP. "I will continue to run a trustworthy state budget, ensure trustworthy public communication and also ensure that what the state budget does supports the government's priority programs," Nazara said after his inauguration. The reshuffle comes as Indonesia faces a crisis of investor confidence. Fitch and Moody's both downgraded the country's credit rating outlook from stable to negative this year, citing policy uncertainty and fiscal spending plans.