World Bank's gain is Indonesia's loss
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Various observers have toasted the appointment of Sri Mulyani Indrawati, World Bank managing director and former Indonesian finance minister, as chief operating officer of the global financial institution.
As chief operating officer, Sri Mulyani’s tasks cover overseeing operations in all regions and areas of human development, including watching over administrative vice presidents and functions.
Standard Chartered senior economist Fauzi Ichsan says the appointment of Sri Mulyani as chief operating officer is a cause for celebration in Indonesia. “We should be proud that an Indonesian has reached such a lofty position at the World Bank.”
Sri Mulyani, who received international acclaim during her tenure as Indonesia’s finance minister, stepped into the World Bank in June 2010 as managing director, a role she will hold in tandem with her new position.
Institute for Development of Economics and Finance economist Ahmad Erani Yustika said that although he disagreed of the pro-market stance of the World Bank, he saw the appointment positively. “Her appointment is agreeable news, given the prestige of the international institution she serves in.”
Indonesian Institute of Sciences senior researcher Dewi Fortuna Anwar added that the extended senior-level position Sri Mulyani now held was “a recognition of her outstanding ability as a distinguished economist and leader”.
Dewi said Sri Mulyani would keep an equal eye on continents under her supervision. “Yet, developing countries will be foremost in her mind.”
Sri Mulyani, who holds a PhD in economics from the University of Illinois, had lectured at her alma mater and was a visiting professor at Georgia State University.
Her pre-ministerial career also included executive roles at the Indonesian National Development Planning Agency and International Monetary Fund.
She went on to become finance minister in 2005 under President Susilo Bambang Yudhoyono, and when the 2008 global economic crisis hit the country, she was named coordinating minister of the economy.
International acclaim, including being named as minister of the year and one of the world’s most powerful women, marked her tenure.
According to Fauzi, the expansion of Sri Mulyani’s duties was a loss for Indonesia. “This appointment shows Indonesia’s loss since we could not protect such an effective reformist within the government.”
Turmoil ranging from the sagging economy to allegations of her involvement in the Bank Century scandal, marked Sri Mulyani’s departure from her ministerial post, and, consequently, the country as she stepped into the World Bank.
