Finance Minister Purbaya Yudhi Sadewa has addressed the turbulence that hit the stock market last week, stating that the events on Wednesday and Thursday, January 28–29, did not reflect a market collapse but rather a momentary unease among investors. He emphasized that as long as he remains in office, the market will recover and strengthen.

Purbaya said the recent volatility was merely temporary anxiety, adding that once investors recognize the continuity of leadership at the Ministry of Finance, market confidence will rebound strongly, as seen in today’s performance. He made the remarks during the Indonesia Economic Summit at the Shangri-La Hotel in Jakarta on Tuesday (February 3, 2026).

As widely reported, the Jakarta Composite Index (JCI) had previously plunged following negative sentiment from an MSCI report, compounded by the resignation of the CEO of the Indonesia Stock Exchange, the Deputy Chairman of the Financial Services Authority (OJK), and two other senior OJK officials. However, RTI data showed that the JCI closed Tuesday’s session at 8,122.59, up 2.52%, after opening earlier in negative territory at 7,888.77.

Purbaya also highlighted his credentials as an experienced economist capable of navigating Indonesia’s economy amid an increasingly volatile and uncertain global environment.

Addressing concerns over the potential downgrade of Indonesia’s market status by MSCI from Emerging Market to Frontier Market, he acknowledged that economic weakness over the past two years had unsettled investors. He noted that Indonesia’s lowest growth point occurred around August 2025, a period marked by public protests driven by economic hardship.

After being appointed finance minister and tasked with recalibrating economic policy, Purbaya said the economy is now back on track and gaining momentum. Nevertheless, lingering memories of past challenges have led investors to view the recovery as fragile.

He stressed that the government is actively improving economic conditions, including strengthening transparency in the capital market—an issue previously raised by MSCI. According to him, these measures aim to eliminate structural weaknesses, restore investor confidence, and reaffirm Indonesia’s strong economic fundamentals, supported by ample liquidity in the financial system.

In closing, Purbaya urged investors to continue investing in Indonesia, noting that the government is fully committed to activating all growth engines—fiscal, monetary, and private sector—while simultaneously enhancing the investment climate. He expressed confidence that within a year Indonesia will become a far more attractive investment destination and encouraged investors not to hesitate in maintaining their exposure to the country.