Gotrade News - Indonesia's Finance Minister Purbaya Yudhi Sadewa announced the removal of two Director Generals from the Ministry of Finance on Wednesday. Febrio Nathan Kacaribu and Luky Alfirman were officially relieved of their duties as of Tuesday evening.
Purbaya stated he would propose three permanent replacement candidates to President Prabowo Subianto in early to mid-May 2026. Both positions are now held by acting officials who were inaugurated the same day.
Key Takeaways:
- Febrio Kacaribu (DG of Economic Strategy and Fiscal Policy) and Luky Alfirman (DG of Budget) removed
- Permanent replacement names to be submitted to President Prabowo by early to mid-May 2026
- A third DG position also remains vacant, currently held by acting official Herman Saheruddin
Febrio Nathan Kacaribu served as Director General of Economic Strategy and Fiscal Policy. The economist, born in 1978, holds graduate degrees from Australian National University and University of Kansas.
Luky Alfirman held the Director General of Budget position before his dismissal. Both have been transitioned out of their structural roles at the ministry.
When asked about the reasons for the removals, Purbaya offered no detailed explanation. "Let them rest first, we will find the right placement later," Purbaya said at the Coordinating Ministry office in Jakarta.
Beyond these two positions, the Director General of State Asset Management post also remains unfilled. Herman Saheruddin currently serves as acting official, replacing Masyita Crystallin who moved to Danatara.
Three DG Positions Await Permanent Appointments
Three Director General positions at the Ministry of Finance are now held by interim officials. Purbaya plans to submit permanent candidates for all three simultaneously in May.
Senior leadership changes at Indonesia's finance ministry draw attention from financial market participants. Fiscal policy stability depends on continuity of leadership at the institution managing the national budget.
Investors monitoring Indonesia's fiscal policy direction should watch for impacts on foreign capital flows. Global banking stocks like JPMorgan Chase maintain exposure to emerging markets including Indonesia.
