Prabowo's Nephew Thomas Djiwandono Wins The House Backing as New BI Deputy Governor

JAKARTA, Investortrust.id — Deputy Finance Minister Thomas Djiwandono has been selected as Deputy Governor of Bank Indonesia on Monday, Jan 26, 2026 in Jakarta to replace Juda Agung after securing unanimous approval from Commission XI of the House of Representatives following a fit and proper test, a decision expected to reinforce policy coordination and market confidence. The appointment comes as policymakers seek tighter fiscal and monetary alignment to support growth while preserving central bank independence.

The decision was reached through internal deliberations lasting less than 20 minutes after Thomas completed his presentation before lawmakers. Commission XI chairman Mukhamad Misbakhun said the choice reflected consensus across all parliamentary factions.

“Through deliberation and consensus in Commission XI, it was decided that the Deputy Governor of Bank Indonesia replacing Mr Juda Agung is Mr Thomas AM Djiwandono,” Misbakhun said at the Nusantara I building in Jakarta. He added that the decision would be brought to a plenary session on Tuesday, Jan 27, 2026 for formal ratification.

Misbakhun said Thomas was accepted by all political parties without any formal notes or objections. Lawmakers, he said, were persuaded by Thomas’s explanation of how fiscal and monetary policies could mutually reinforce each other amid current economic challenges.

“He explained very clearly the importance of building synergy between monetary policy and fiscal policy,” Misbakhun said. “This is indeed a very strong issue right now, how to create policies that support each other.”

Addressing concerns about political perceptions surrounding the appointment, Misbakhun stressed that Bank Indonesia operates under a collective collegial system. Decisions, he said, are made jointly by the governor and deputy governors rather than by individuals acting alone.

“So it cannot be said that each stands independently, because there is a collective collegial mechanism,” he said. He added that Thomas was expected to uphold professionalism and safeguard the independence of the central bank.

During his fit and proper test, Thomas emphasized the need for closer coordination between fiscal, monetary, and financial sector policies while maintaining Bank Indonesia’s autonomy. He outlined what he called the BI GERAK framework to guide policy execution.

“There are several opportunities for us, especially in terms of synergy between fiscal and monetary policy,” Thomas told lawmakers. He said the framework stressed stakeholder coordination, strong governance, effective policy transmission, financial system resilience, and sustainable transformation.

Thomas also linked policy coordination to President Prabowo Subianto’s push for higher and more inclusive economic growth. He said all engines of growth, from fiscal and monetary policy to investment climate reforms, needed to move in the same direction.

“In the end, this will help sectors with high value added and strong multipliers, as well as resilient and labor intensive sectors, to grow in a balanced way,” he said.

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Market participants reacted positively to the confirmation, with the rupiah strengthening to Rp 16,779 per US dollar based on the Jakarta Interbank Spot Dollar Rate on Monday. Currency analyst Ibrahim Assuaibi said the outcome of the parliamentary process had reduced uncertainty.

“The market responded positively to the fit and proper test and the confirmation of Thomas Djiwandono as deputy governor,” Ibrahim said. He added that confidence was also supported by Bank Indonesia’s commitment to intervene through offshore NDF, DNDF, and spot markets to stabilize the rupiah.

Finance Minister Purbaya Yudhi Sadewa, earlier, cautioned against linking currency movements solely to the appointment process. He said the rupiah had weakened earlier due to other domestic and global factors.

“The rupiah weakened before Mr Thomas was nominated, so that is not the issue,” Purbaya said. He stressed that the government and Bank Indonesia remained aligned in maintaining exchange rate stability and economic fundamentals.

Thomas Aquinas Muliatna Djiwandono, born on May 7, 1972 and widely known as Tommy, is a politician, historian, and economist who has served as treasurer of the Gerindra Party since 2014 until recently. He is the nephew of President Prabowo Subianto and was appointed as Deputy Finance Minister II alongside Suahasil Nazara to support Finance Minister Sri Mulyani on July 18, 2024.

He is the eldest son of Joseph Soedradjad Djiwandono and Biantiningsih Miderawati Djojohadikusumo, the latter being the sister of President Prabowo Subianto. Thomas is married and has three children, and lawmakers said his background and experience would add depth to Bank Indonesia’s policy deliberations.