Prabowo nominates nephew to Bank Indonesia board amid independence fears

Indonesian President Prabowo Subianto has nominated his nephew to join the central bank’s board of governors, two sources said, amid growing concern about its independence as the government seeks more support for ambitious economic targets. Investors have worried that independent monetary policymaking in Southeast Asia’s largest economy might be under pressure as Prabowo targets economic growth of 8 per cent by 2029, ⁠from about 5 per cent now. Those fears grew after Bank Indonesia (BI) unveiled...