TEMPO.CO, Jakarta - Indonesian Minister of Finance Sri Mulyani Indrawati talked about the country’s economic crisis in 1997-1998 and 2008-2009 during her speech at the opening ceremony of the Finance Profession Expo 2023 at the Ministry Building, Central Jakarta, Tuesday, July 25, 2023.
Sri stated that the banking crises in Indonesia and Southeast Asia in 1997-1998 and the 2008-2009 global financial crisis were all generated by the finance profession, such as accountants and actuaries who made the wrong assessments.
However, she said the party that is often blamed is the Minister of Finance.
“If a financial crisis occurs, you are never mentioned although there are many misrepresentations. When a crisis occurs, when insurances collapse, have people ever asked accountants or actuaries? They haven’t,” Sri said before accountants and actuaries attended the expo.
The state treasurer added, “It’s the Minister of Finance who is often scolded over it.”
Until now, Sri said that what has been pointed out more is about how to resolve the financial crisis. In this case, she underlined the key role of the finance profession in developing state finances.
The finance profession will determine whether a country's economy can be advanced, healthy, and sustainable. Therefore, Sri hoped that finance professionals in Indonesia could continue to oversee the economy which will become increasingly complicated in the future.
“Finance professionals must have increasingly adequate competence, be capable of seeing and managing risks, be capable of conveying data and information accurately and credibly, and possess professional integrity,” Sri Mulyani concluded.
AMY HEPPY
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