Perry Warjiyo, Governor, Bank Indonesia

Recent data shows that Indonesia’s economy is on a path to recovery, having pulled out of an economic slump to grow 3.69 per cent in 2021 after contracting 2.07 per cent in 2020. The pace of growth has also accelerated, with the economy growing above 5 per cent in the fourth quarter of last year from 3.51 per cent the previous quarter. Growth in Southeast Asia’s biggest economy is projected to accelerate further this year and next, to 5.6 and 6 per cent respectively. However, rapidly rising Omicron cases in the archipelagic nation and falling commodity prices shadow the path of recovery.

While the IMF noted Indonesia’s inflation to be lower than in other emerging and advanced economies, inflation has picked up to 2.18 per cent in January – the highest rate in 20 months. While the central bank, Bank Indonesia, has kept the key interest rate low, it announced last month staggered hikes in the reserve requirement ratio for banks over the next eight months by 300 basis points, a surprise move that is seen as one of the first signs of monetary tightening.

To discuss Indonesia’s economic outlook beyond the pandemic, Asia House will welcome Perry Warjiyo, Governor of Bank Indonesia, for an exclusive digital briefing with Corporate Members on Monday, 7 March.

Governor Warjiyo will discuss the outlook for Indonesia’s economic recovery this year, and will also share his insights on how the country is encouraging the development of a green and digital economy, as well as Indonesia’s key priorities for its G20 leadership this year.

Perry Warjiyo has served as  Governor of Bank Indonesia since 2018. Prior to this appointment he served as the Central Bank’s Deputy Governor from 2013. Governor Perry had also held the position of Assistant Governor for Monetary, Macroprudential and International Policy as well as the Executive Director of the Economic Research and Monetary Policy Department. He has also held the post of Executive Director at the International Monetary Fund (IMF), representing 13 member countries under the auspices of the Southeast Asia Voting Group from 2007-2009.

This briefing is being convened for Asia House Corporate Members. To register interest, please email Olivia Rondonuwu, Programme Manager: olivia.rondonuwu@asiahouse.co.uk

READ the Asia House Annual Outlook 2022 report which features a section on Indonesia’s prospects this year.