Wednesday, November 2, 2016

Sri Mulyani Back as Minister of Finance: What's her step?

By on 2:07 AM

Indonesia finance minister sri mulyani
Sri Mulyani Back as Minister of Finance
Lampung - Sri Mulyani served as Minister of Finance from 2005 to 2010. She resigned from her position as she was appointed Managing Director of World Bank Group. During her tenure as Managing Director of World Bank Group, nothing stained her good reputation until she was called back to serve again as Minister of Finance by President of the Republic of Indonesia, Joko Widodo on July 27th, 2016.

Sri Mulyani was born on August 26th, 1962 in Bandar Lampung. She was the seventh child. Her parents were both lecturers. No wonder if she has achieved the greatest career as she was brought up in a family of well educated people.

According to liputan6.com, Sri Mulyani accepted the offer as Indonesia Finance Minister because President of Indonesia, Joko Widodo would like her to strengthen the government’s fiscal policy. This is not the only reason for her having accepted the offer. She also felt honored as she was given the trust to once again run the finance ministry.

Before working as Minister of Finance, Sri Mulyani was once an Executive Director of IMF (International Monetary Fund) in early October 2002. She represented 12 countries in Southeast Asia (South East Asia / SEA Group).

Back to her career as the first Minister of Finance, she remembered something that rankled in her mind in regard to the fact that the country had no state treasury balance sheet, which she had to accept.

On November 2nd, 2016, at a National Work Meeting of Directorate General of State Treasury, which she opened, she was quoted as saying that she had to work as Minister of Finance from 2005 to 2010 without having the State Treasury Balance Sheet.

“How can State Treasury Management be built only by virtue of the Mandate of Act of State Treasury? Ministry of Finance has the duty of safeguarding State Finance. How can this duty be carried out without us having State Treasury Balance Sheet?”

During her first tenure as Minister of Finance (2005 – 2010) she found out that State Finance could be taken any where including the State Treasury. Much of the State Treasury was suddenly transferred in terms of status or was used by other parties. All of these were due to the Country not having State Treasury Balance Sheet.

Accordingly, Directorate General of State Treasury has to be formed and established. The initial steps to be taken shall be the recording of all State Asset, which she believes to have significant shortcomings. When the State Treasury Balance Sheet is audited by Audit Board of the Republic of Indonesia (BPK), she is sure that the Audit Board will not express its opinion on the balance sheet (Disclaimer Opinion). According to Sri Mulyani, disclaimer opinion at the initial stage of a balance sheet will be no matter as this actually reflects the past of the Government for us to know.

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