Thomas Djiwandono Emerges as BI Deputy Governor Contender Amid Reshuffle Signals

JAKARTA, Investortrust.id — Deputy Finance Minister Thomas Djiwandono is nominated as a candidate for Deputy Governor of Bank Indonesia on Monday, Jan 19, 2026 in Jakarta after the resignation of an incumbent, a move that has triggered a fast-tracked parliamentary fit and proper test and raised expectations of a broader reshuffle within Indonesia’s financial authorities.

The nomination was confirmed by the Presidential Palace, which sent a formal letter to the House of Representatives to begin the selection process following the resignation of Juda Agung from the central bank’s board.

Minister of State Secretary Prasetyo Hadi said the government had submitted several names to parliament, including the current deputy finance minister.

“There are several names that have been sent, and one of those proposed by the government is indeed Mr Thomas Djiwandono,” Prasetyo said at the Presidential Palace complex.

He explained that the selection process was initiated after Juda Agung submitted his resignation, creating a vacancy that required immediate replacement through parliamentary approval.

“The President or the government sent the presidential letter to the DPR because the selection process is conducted in the DPR through a fit and proper test,” Prasetyo said.

Until now, Bank Indonesia has not issued an official explanation regarding the reasons behind Juda Agung’s resignation, leaving room for speculation about internal realignments.

Behind the nomination, signals have emerged pointing to a possible exchange of positions between Thomas and Juda Agung within the broader financial governance structure.

Finance Minister Purbaya Yudhi Sadewa openly acknowledged the possibility that Juda Agung could move to the post of Deputy Finance Minister if Thomas is confirmed at the central bank.

“It looks like that is the case, I also heard that. I plan to meet Mr Juda soon to see what his intentions are,” Purbaya said after a meeting with Commission XI of the DPR.

Purbaya voiced his support for Thomas’s candidacy, arguing that the move would broaden his policy experience beyond fiscal affairs.

“It is good. He has worked in fiscal policy, and if he moves into monetary policy, that is a good expansion of experience. I support it,” he said.

When asked directly whether the process amounted to a position swap, Purbaya responded half-jokingly while reinforcing the speculation.

“It looks like a switch. If the leaks are correct, then yes, it seems like a switch,” he said.

Purbaya also revealed that Thomas had been asked to attend Bank Indonesia’s Board of Governors Meeting in November 2025, a move now seen as an early signal of his possible transition.

“He was asked to take a look at what was going on in BI. He has done that twice, which I think is enough. Moving there now makes sense,” he said.

Chairman of DPR Commission XI Mukhamad Misbakhun confirmed that parliament had received the presidential letter nominating three candidates for the deputy governor position.

Besides Thomas Djiwandono, the government also nominated Dicky Kartikoyono, Head of BI’s Payment System Policy Department, and Solikin M. Juhro, Head of BI’s Macroprudential Policy Department.

“The presidential letter has been discussed in the DPR leadership meeting and assigned to Commission XI,” Misbakhun said at the parliament complex.

Both Dicky and Solikin are career central bankers, a contrast to Thomas’s background in fiscal policymaking at the Finance Ministry.

Misbakhun said Commission XI would immediately schedule the fit and proper test, which is expected to take place within the week to avoid a prolonged vacancy.

“The vacancy cannot be left for too long. The important thing is that it takes place on a working day this week,” he said.

He added that parliament was not informed in detail about Juda Agung’s reasons for stepping down, stressing that the presidential letter was submitted solely on the basis of the resignation.

“For the reasons, you should ask Mr Juda Agung directly. The basis of the presidential letter is simply that there was a resignation,” Misbakhun said.

The outcome of the selection will determine not only the composition of Bank Indonesia’s leadership but also the balance between fiscal and monetary expertise at the core of Indonesia’s economic policymaking.