Dion Bisara – A group of respected professionals from the financial sector on Wednesday threw their support behind Vice President Boediono and Finance Minister Sri Mulyani Indrawati, who are under fire over the government's decision to bail out ailing PT Bank Century last year.
"We are ready to back up Vice President Boediono and Finance Minister Sri Mulyani with whatever we can do in our professional capability," said Mas Achmad Daniri, the spokesman for the group, which includes economics observers from bank-affiliated or independent bodies and capital market players.
Daniri was a former president director of the Jakarta Stock Exchange, which subsequently changed its name to the Indonesia Stock Exchange.
Also appearing at the press conference were Erry Riyana Hardjapamekas, a former Corruption Eradication Commission (KPK) economist; Christianto Wibisono, from private think-tank Global Nexus Institute; Indonesia Research and Strategic Analysis analyst Faisal Basri; Lily Widjaja, president director for global brokerage firm PT Merrill Lynch Indonesia; and political analyst Wimar Witoelar.
"Professionals want the case of Bank Century to be settled proportionally, in line with the law, without confusing the public and without any slander or character assassination," the group said in a statement.
The group also claimed to support lawmakers currently conducting an inquiry into the Bank Century saga, but said it was vital that they acted rationally and professionally, as the issue had now come under international scrutiny and there were concerns it could deter investors planning to put money into the country.
Separately, Tony Prasetyantono, chief economist PT Bank Negara Indonesia, also pledged his support to Sri Mulyani, saying that the credibility of the government would be at stake if she was replaced.
"Confidence would heavily depend on who replaces her. Indonesia's stock market index movement is mainly due to sentiment," Tony said.
However, Iksan Modjo, director of the Institute for Development of Economics and Finance, said it was an exaggeration to say that the economy would crumble just because of one person.
"This is not the first time we've experienced this. For example, [the case of] Burhanudin Abdullah. No one doubted his integrity [as a monetary policy maker] but he could still make mistakes. When he was replaced our economy still went on," Iksan said.
Burhanuddin is a former central bank governor who was named one of the world's five best bankers in 2007 by Global Finance magazine. He is now serving a five-and-a-half-year prison term for misusing funds from the Indonesian Banking Development Foundation.
Economic analyst Faisal Basri, center, and activists from the Indonesian professional community expressing their opinions of the Bank Century scandal in front of the Indonesian Stock Exchange in Jakarta on Wednesday. They demanded that the parties involved in resolving the case be professional and focus on a fair judicial process.