Indonesian Parliament Appoints President's Nephew to Central Bank

Indonesia's parliament has chosen Thomas Djiwandono, the nephew of the country's president, to be a deputy governor of the central bank.

This decision was made on January 27, 2024, and it was agreed upon unanimously by the parliamentary commission that oversees finance.

Thomas will now be officially sworn in by the Supreme Court, though the exact date is not yet known.

Some investors were worried about this appointment because they thought it might affect the independence of the central bank.

However, Thomas has said that he will work to support the country's economic growth while keeping the central bank independent.

The Indonesian currency, the rupiah, briefly hit a record low after the announcement but later recovered.