Soedrajad Djiwandono & Prabowo Diberhentikan dari Jabatannya di 1998, Apa Hubungannya? | ROSI Part 1

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Professor Sudrajat Jiwandono reflects on his career as Governor of Bank Indonesia under President Soeharto, discussing challenges in managing the banking sector and foreign exchange reserves amidst economic turmoil. Despite facing criticism and dismissal for his decisions, he emphasizes the importance of passion in academic pursuits and bold actions in economic leadership.

Insights

  • Professor Jiwandono faced challenges managing Indonesia's foreign exchange reserves and closed 16 banks, including those owned by President Soeharto's family, to stabilize the banking sector.
  • The speaker emphasizes the importance of passion over monetary gain in academic pursuits, drawing parallels between choosing writing topics and falling in love, urging young leaders to act decisively without fear of risks for economic and political stability.

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Recent questions

  • How did Professor Jiwandono contribute to stabilizing Indonesia's banking sector?

    Professor Jiwandono played a crucial role in stabilizing Indonesia's banking sector by closing 16 banks, including those owned by President Soeharto's family, to address economic turmoil. This bold decision aimed to protect the country's financial stability and restore confidence in the banking system. Despite facing criticism and threats, he stood by his actions to safeguard the Indonesian economy, showcasing his commitment to making tough choices for the greater good.

  • What challenges did Professor Jiwandono face during his tenure as Governor of Bank Indonesia?

    Professor Jiwandono faced volatile developments in the monetary and banking world during his tenure as Governor of Bank Indonesia. Managing Indonesia's foreign exchange reserves amidst economic turmoil was a significant challenge he encountered. Additionally, he had to navigate the closure of problematic banks and make tough decisions to stabilize the banking sector, even at the cost of facing backlash and ultimately being dismissed from his position.

  • How did Professor Jiwandono's career progress from his assistant minister role?

    Professor Jiwandono's career progression saw him rise from an assistant minister to the Governor of Bank Indonesia, showcasing his dedication and expertise in the field of economics and finance. His journey from a junior minister to a prominent position in the central bank highlights his commitment to serving his country and making impactful decisions for the Indonesian economy. This progression reflects his resilience and determination in navigating the complexities of Indonesian politics and economics.

  • What advice did Professor Jiwandono offer to academics regarding career choices?

    Professor Jiwandono advised academics to prioritize passion over monetary gain in their career choices, emphasizing the importance of pursuing topics that evoke strong emotions and personal dedication. Drawing parallels between choosing a topic for writing and falling in love, he highlighted the significance of passion and determination in academic pursuits. This advice underscores the value of following one's interests and convictions in academic and professional endeavors.

  • How did Professor Jiwandono's experiences shape his dedication to teaching post-retirement?

    Professor Jiwandono's experiences, including his tenure at Harvard and Nanyang University, shaped his dedication to teaching post-retirement. Despite facing challenges with class sizes and student demographics, he expressed gratitude for the opportunity to share his knowledge with students. His commitment to education extended beyond retirement, reflecting his passion for imparting wisdom and fostering learning environments. This dedication underscores his enduring impact on future generations of students and scholars.

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Summary

00:00

Professor Jiwandono's Reflections on Indonesia's Economic Challenges

  • Professor Sudrajat Jiwandono, a former governor of Bank Indonesia, reflects on his career and experiences during the era of President Soeharto.
  • He discusses facing volatile developments in the monetary and banking world during his tenure as governor.
  • Professor Jiwandono recalls the challenges of managing Indonesia's foreign exchange reserves during a period of economic turmoil.
  • He highlights the closure of 16 banks, including some owned by President Soeharto's family, to stabilize the banking sector.
  • The professor recounts being dismissed from his position as governor, six weeks before his term ended, due to his decisions regarding problematic banks.
  • Despite criticism and threats from demonstrators, Professor Jiwandono stands by his actions to protect the Indonesian economy.
  • Following his dismissal, he pursued teaching opportunities at Harvard and authored a book on managing Bank Indonesia during crises.
  • Professor Jiwandono's dedication to teaching continued post-retirement, including a 20-year tenure at Nanyang University.
  • He reflects on his son's humorous reaction to his intense writing habits and the impact on his grandson's education.
  • The professor expresses gratitude for the opportunity to share his knowledge with students, despite challenges with class sizes and student demographics at NTU.

21:12

Passion in Writing and Career Choices

  • Choosing a topic for writing is compared to falling in love, emphasizing the need for passion and determination.
  • Encouragement to select topics that evoke strong emotions, akin to choosing a spouse.
  • Advice to academics to prioritize passion over monetary gain in their career choices.
  • Anecdote about a former minister and Governor of Bank Indonesia living modestly despite assumptions of wealth.
  • Personal story of family struggles and the impact of a mother's perseverance on education and career success.
  • Emotional recollection of a public lecture where the speaker expressed gratitude to influential figures.
  • Career progression of Professor Sudrajat Jiwandono, from assistant minister to Governor of Bank Indonesia.
  • Distinction between junior minister and deputy minister roles in Indonesian politics.
  • Collaboration and camaraderie among young ministers during the New Order era.
  • Example of successful international trade practices and financial management strategies.

40:24

Bold Decisions and Leadership in Indonesia

  • The speaker reflects on past decisions made for the Indonesian economy, emphasizing the importance of bold actions despite initial uncertainty.
  • Mention of closing a bank due to insufficient capital, with a positive response from a superior, possibly Prof. Drajat.
  • Recollection of meeting Saddam Hussein and other notable figures, highlighting personal benefits gained from such experiences.
  • Discussion on the need for young leaders to act decisively without fear of risks, referencing past economic and political crises.
  • Reference to Prabowo's long-standing plan for free school lunches and the importance of calculated costs in implementing such programs.
  • Concerns about economic and political stability, with a focus on selecting competent individuals for key government positions.
  • Critique of tax revenue ratios and the need for improved tax collection methods, referencing past cases of corruption.
  • Debate on the separation of the tax department from the Ministry of Finance, with differing opinions on the potential effectiveness of such a move.
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