Indonesia Appoints New Finance Minister, Replaces Sri Mulyani

The Indonesian government removed Finance Minister Sri Mulyani Indrawati in a cabinet reshuffle on Monday, appointing Purbaya Yudhi Sadewa, Chairman of the Deposit Insurance Corporation, as the new Finance Minister.

Sri Mulyani is one of Indonesia's longest-serving finance ministers and has worked under three presidents.

She received widespread praise for reforming the tax system and for her role in steering Southeast Asia’s largest economy through several crises, including the COVID-19 pandemic and the global financial crisis.

Between her first and second terms as finance minister, she served as a Managing Director at the World Bank.

The announcement came after two weeks of protests and unrest across the country, which included demands for a fairer taxation system.

During some of the protests in late August, looters broke into Sri Mulyani’s home.