Backgrounder

Political constellations shift after Anies-Muhaimin duo announced

The country’s political landscape has changed after the announcement that former Jakarta governor Anies Baswedan will partner with National Awakening Party (PKB) chairman Muhaimin "Cak Imin" Iskandar as presidential and vice-presidential candidates. The Coalition of Change for Unity, which has until now opposed the current government and has selected Anies as its presidential candidate, has moved closer to President Joko “Jokowi” Widodo’s policy lines, turning the 2024 presidential election into a race among the “President’s men”.

Merah Putih Fund targets “soonicorns” with $300 million initial funding

Five state-owned corporate venture capitals (CVCs) have formally launched the Merah Putih Fund, raising US$300 million in its first fundraiser targeting “soonicorns”, or start-ups expected to soon become unicorns.

Edition

September 1, 2023

Indonesia joining BRICS? Thanks, but no thanks

Indonesia made the point of attending the summit of the club of emerging economies known as BRICS in South Africa last week, but it politely turned down an invitation to join the group, which is expanding its membership to strengthen its hand in managing global economic affairs.

Freshly launched, LRT already grappling with operational glitches

After several delays and subsequent controversies, the Greater Jakarta LRT finally commenced official commercial operations on Monday. Within three days of operation, the LRT has encountered a series of issues, including train delays, train door malfunctions, and power outages leading to abrupt train stops. These operational problems have added to an array of controversies that have clouded the development of the LRT.

Edition

August 25, 2023

Tension between Jokowi and Megawati about to get worse

President Joko “Jokowi” Widodo and Megawati Sukarnoputri, the chair of the Indonesian Democratic Party of Struggle (PDI-P), the largest party in the coalition government, have sharp and probably irreconcilable differences in their approaches to the 2024 presidential race. Jokowi, a member of the PDI-P, appears to be supporting Defense Minister Prabowo Subianto of Gerindra, another coalition member party.

Debt for Jokowi's infrastructure projects looms over 2024 budget

For the last year of his final term in office, President Joko “Jokowi” Widodo has set ambitious targets in terms of economic growth, poverty reduction, job creation and reducing inequality, using the state budget as an instrument to achieve these. And yet, the budget continues to be burdened by rising debt and ballooning contingency allocations related to infrastructure projects.

Edition

August 18, 2023

Prabowo’s presidential bid gains upper-hand as alliance grows

The Golkar Party and the National Mandate Party (PAN) have finally decided to ally themselves with the Gerindra Party and the National Awakening Party (PKB) to support Prabowo Subianto in his presidential bid. This makes Prabowo the current presumptive presidential candidate with the biggest political backing, which could translate into a better chance of winning the 2024 race.

Govt, Faisal Basri lock horns over downstream nickel policy

President Joko “Jokowi” Widodo’s policy to develop the country’s mineral downstream industry, especially for nickel, is once again facing scrutiny after senior economist Faisal Basri called out the policy for benefitting other countries, especially China, more than Indonesia. Jokowi refuted Faisal’s claims, sparking a series of counterarguments from his camp in defense of the policy.