JAKARTA (REUTERS)- Indonesian President Joko Widodo reshuffled his cabinet on Wednesday, replacing several ministers including three in economic posts with the aim of reassuring investors worried about protectionism, mixed policy signals and slower growth.
Gross domestic product growth in Southeast Asia's largest economy eased to 4.67 per cent in the second quarter, its slowest pace in six years.
Following are some details about the changes:
COORDINATING MINISTER FOR ECONOMICS - Darmin Nasution
Nasution, 66, was governor of the central bank, Bank Indonesia, from 2010 to 2013, where he introduced a 40 per cent cap on foreign ownership of Indonesian banks. Before taking over at the central bank, he served as head of the tax office and head of the stock market regulator. Nasution, who holds a doctoral degree from the Sorbonne in Paris, replaces Sofyan Djalil.
TRADE MINISTER - Thomas T. Lembong
A Harvard-educated investment banker, Lembong, 44, is the chief executive of Quvat Management, a Singapore-based private equity firm that invests in Indonesia. He previously worked with Deutsche Bank, Morgan Stanley, and Indonesian investment firm Farindo Investments. Lembong is known for his involvement in restructuring Indonesia's banking sector in the aftermath of the Asian monetary crisis in the late nineties.
MINISTER FOR NATIONAL DEVELOPMENT PLANNING - Sofyan Djalil
Djalil, outgoing coordinating minister for economics, studied law in Indonesia and then went to Tufts University in the United States where he earned two master's degrees and a doctorate. He was telecommunication minister and state-owned enterprises minister during the first of former President Susilo Bambang Yudhoyono's two terms.
COORDINATING MINISTER FOR MARITIME AFFAIRS - Rizal Ramli
Ramli, 60, is a former finance minister and coordinating minister for economics, serving in 2001 under then President Abdurrahman Wahid. A prominent economist with a doctoral degree from Boston University, he was a harsh critic of former President Yudhoyono. Several ministries including energy, transportation and tourism fall under the remit of this coordinating ministry. Joko created the portfolio upon taking office in October last year as part of his plan to boost the maritime economy.
COORDINATING MINISTER FOR SECURITY AND POLITICAL AFFAIRS - Luhut Pandjaitan
Pandjaitan, 67, is one of Joko's most trusted advisers and takes over the chief security post in addition to his role as presidential chief of staff. The retired general used to be chief of the military's special forces before serving as ambassador to Singapore and then minister for trade and industry. He founded Toba Sejahtera Group in 2004, which is involved in coal and palm oil
CABINET SECRETARY - Pramono Anung
Anung, 52, is a member of Joko's PDI-P party and is said to be close to party chief and Joko's main patron, former President Megawati Sukarnoputri. His appointment is one of the few political additions to the cabinet and is seen as a way to appease critics in the ruling coalition.