REPUBLIKA.CO.ID, JAKARTA -- The House of Representatives (DPR), in its plenary session on Tuesday, endorsed Perry Warjiyo as the Governor of the Indonesian central bank, Bank Indonesia (BI), for the period of 2018-2023. He replaced Agus Martowardojo.

The House's leadership also approved Dody Budi Waluyo as the Deputy BI Governor for 2018-2023, replacing Warjiyo. "The plenary session agreed to the induction," DPR Deputy Chairman Taufik Kurniawan stated after receiving the agreement from the DPR members.

Prior to the plenary endorsement, Warjiyo and Waluyo received approval from the Commission XI on the banking and financial affairs of the DPR during the fit and proper test. The Commission XI members from 10 political party factions in the Commission voted unanimously for them.

"Commission XI of the House of Representatives has decided, through consensus, to select Warjiyo as the Governor of Bank Indonesia for the 2018-2023 period and Waluyo as the Deputy Governor of Bank Indonesia for the same period," Deputy Chairman of Commission XI Achmad Hafisz Tohir remarked in the plenary session.

The Finance and Banking Commission has asked Warjiyo and Waluyo to maintain the economic stability in the face of potential global economic turmoil. Economic stability must be maintained with monetary policy that emphasizes on efforts to maintain rupiah stability.

"Candidates for governor of Bank Indonesia and elected deputy governor of Bank Indonesia will be able to improve the coordination with the government, Financial Service Authority (OJK), and DPR related to BI policies in monetary, macroprudential, and payment system while maintaining BI independence," Tohir explained.

Furthermore, the assignment of Warjiyo and Waluyo will be ratified by the Supreme Court. Waluyo will officially assume his duty as BI Deputy Governor from April 15, 2018, and Warjiyo will assume his duties on 4-May 24, 2018.

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