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Indonesia’s Lawmakers Call for Caution Over Central Bank Reform

  • Lawmakers raised concern over state influence, BI independence
  • Draft bill proposed expanding BI’s mandate to include growth
The Bank Indonesia headquarters in Jakarta, Indonesia.

The Bank Indonesia headquarters in Jakarta, Indonesia.

Photographer: Dimas Ardian/Bloomberg

Indonesian lawmakers called for caution over proposals to reform the central bank amid investor worries the changes would erode its independence.

Several lawmakers who attended the Thursday meeting raised concerns over how much influence the government should wield over Bank Indonesia and whether there are good enough reasons for seeking to revamp the 1999 Central Bank Act.