JAKARTA – Former Indonesian President Susilo Bambang Yudhoyono (SBY) has addressed the recent volatility in the national financial markets, where the Composite Stock Price Index (IHSG) closed at 6,858.899 and the rupiah weakened to 17,529 per US dollar. While acknowledging that the current economic climate is far from ideal, SBY remains optimistic that the situation remains manageable, provided that the government, business sector, and economists work in unison to preserve national stability.
Speaking from Magelang, where he has been focusing on his painting, SBY shared his observations on the recent market trends via the social media platform X on Tuesday, May 12, 2026. He candidly admitted that the ongoing dynamics in both the capital and money markets are concerning, yet he emphasized that the worst of these economic pressures can still be averted.
SBY believes that Indonesia possesses the necessary political and economic resources to navigate these challenges. He stressed that while the situation is difficult, viable solutions and policy options are still available, provided that decisive action is taken. According to SBY, it is imperative for the nation to leverage its remaining strengths to prevent further economic deterioration.
Central to his message is the need for collective solidarity under the leadership of President Prabowo Subianto. SBY underscored that in an era of complex global and domestic economic shifts, the government, the private sector, and financial experts must align their efforts. He highlighted that unity in crucial matters and the cultivation of mutual trust are the foundations required to overcome current hurdles.
Ultimately, SBY appealed to the public to provide the government with the necessary time and support to stabilize the economy. By fostering a unified national front and backing the current administration’s efforts, he expressed confidence in Indonesia’s capacity to weather the storm. As he concluded, “Let us give the government the opportunity and support it needs. God willing, Indonesia can do this.”
Summary
Former President Susilo Bambang Yudhoyono has addressed the recent volatility in Indonesia’s financial markets, specifically noting the decline of the Composite Stock Price Index and the weakening of the rupiah. While acknowledging the current economic climate is concerning, he emphasized that the situation remains manageable through decisive policy actions and the use of national resources. He remains optimistic that the country can avert severe economic pressure if the government and business sectors work together.
SBY called for national unity and collective solidarity under the leadership of President Prabowo Subianto to navigate these challenges. He urged the public and financial experts to provide the government with the necessary time and support to stabilize the economy. By fostering mutual trust and a unified front, he expressed confidence in Indonesia’s capacity to overcome the current market instability.
