Purbaya Removed from Ministry of Finance: Is He the Next Bank Indonesia Governor?

The replacement of the Finance Minister has once again drawn attention after President Prabowo Subianto reshuffled the Red and White Cabinet on Monday, September 14, 2026. 

Purbaya Yudhi Sadewa, who had only served as Finance Minister for about a year, was officially replaced by Suahasil Nazara.

The change has once again raised the long-standing question: was Purbaya removed from the Ministry of Finance because he would become Governor of Bank Indonesia?

This rumor had actually circulated since the position of Bank Indonesia Governor became vacant following Perry Warjiyo's resignation.

However, recent developments show that the rumor was not proven.

Key Takeaways

• Purbaya Yudhi Sadewa was officially removed from his position as Finance Minister on September 14, 2026, and replaced by Deputy Finance Minister Suahasil Nazara.
• His removal does not automatically mean that Purbaya will become Governor of Bank Indonesia. The position of BI Governor for the 2026–2031 term has been given to Destry Damayanti.
• After no longer serving as Finance Minister, Purbaya was reportedly set to return to trading, based on a statement by his son, Yudo Achilles Sadewa.

Purbaya Removed and Replaced by Suahasil Nazara

President Prabowo officially appointed Suahasil Nazara as Finance Minister to serve the remainder of the Red and White Cabinet's 2024–2029 term. Previously, Suahasil served as Deputy Finance Minister and had long been part of the Ministry of Finance.

With this decision, Purbaya was replaced by Suahasil and is no longer serving as the country's finance minister.

Purbaya began serving as Finance Minister on September 8, 2025, replacing Sri Mulyani Indrawati. This means his tenure lasted about one year before ending with the reshuffle.

So, why was Purbaya removed?

To date, the government has not publicly provided one specific reason explaining Purbaya's removal. 

Therefore, various analyses regarding fiscal policy, relations with Bank Indonesia, and investor confidence should be positioned as analysis, not as the government's official reason. 

Reuters, for example, linked the change to concerns about fiscal management and investor confidence.

Read Also: On Crypto Investment, Finance Minister Purbaya Warns Gen Z: Don't Borrow Money!

Will Purbaya Become Governor of BI?

The answer is no.

The rumor that Purbaya would become Governor of BI gained momentum after Perry Warjiyo resigned from the position in July 2026. Purbaya's name was even mentioned among the potential candidates for his replacement.

However, Purbaya himself denied the rumor. In July 2026, he said his name often appeared in discussions about various strategic positions, but he had never actually been selected for those positions.

Subsequent developments have also answered the question. Destry Damayanti was appointed and inaugurated as Governor of Bank Indonesia for the 2026–2031 term. She officially took the oath of office on September 2, 2026, after previously receiving approval from the House of Representatives.

Therefore, Purbaya's removal from the Ministry of Finance was not because he was automatically transferred to become Governor of BI. The two positions are separate events.

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Purbaya and Destry Reportedly Maintain a Good Relationship

Interestingly, before Purbaya's removal, the relationship between the Finance Minister and Bank Indonesia had also drawn attention.

During a meeting with Commission IV of the Regional Representative Council (DPD RI) on September 14, Purbaya said coordination between the government and BI had improved. He also said he had known Destry since they both worked at the Indonesia Deposit Insurance Corporation (LPS).

This indicates that the change in Finance Minister cannot immediately be concluded to have resulted from a personal conflict with the Governor of BI.

From a policy perspective, coordination between the government and central bank remains important because fiscal and monetary policies influence each other, particularly in maintaining rupiah stability, inflation, economic growth, and market confidence.

Read Also: New BI Governor Destry Damayanti: Profile and Strategy for Leading Bank Indonesia

After Being Removed, Will Purbaya Return to Trading?

There is another aspect that has drawn public attention after Purbaya was removed from the Ministry of Finance.

Purbaya's son, Yudo Achilles Sadewa, said on social media that his father could resume trading activities after no longer serving as a minister. 

The statement was subsequently widely reported and gave rise to the term Purbaya Trader amid discussions about his future.

However, the statement is more appropriately understood as a personal comment about Purbaya's activities after leaving the government, rather than an official announcement regarding his next job or position.

Will Suahasil Bring a Different Fiscal Policy Direction?

Suahasil stated that the change in Finance Minister should not be understood as a total policy shift. He said his approach would be more about continuing the work already underway at the Ministry of Finance.

Nevertheless, there is a clear emphasis on the health and credibility of the state budget. After being inaugurated, Suahasil stressed that the state budget deficit would be kept below 3% of GDP. He also emphasized spending efficiency so that the budget delivers maximum benefits.

For the market, this is one of the key aspects to watch after Purbaya was replaced by Suahasil. 

Investors will assess whether the ministerial change brings tangible changes to fiscal policy or is simply a change in personnel with policy continuity.

Read Also: What Is Demand Pull Inflation? Its Relationship with Finance Minister Purbaya's Policy

Conclusion

Therefore, Purbaya was removed from the Ministry of Finance and replaced by Suahasil Nazara in the September 14, 2026 reshuffle. However, there is no basis to conclude that Purbaya subsequently became Governor of BI.

The position of BI Governor for the 2026–2031 term is already held by Destry Damayanti. Meanwhile, the specific reason why Purbaya was removed has not been officially explained by the government, so various assumptions regarding fiscal policy, the market, or interinstitutional relations should be distinguished from official facts.

For now, market attention will shift to Suahasil and how he maintains the credibility of the state budget, the deficit, and economic stability following the sudden change.

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FAQ

Was Purbaya removed as Finance Minister?

Yes. President Prabowo replaced Purbaya Yudhi Sadewa as Finance Minister on September 14, 2026, and appointed Suahasil Nazara as his replacement.

Will Purbaya become Governor of BI?

No. Destry Damayanti has been appointed and inaugurated as BI Governor for the 2026–2031 term.

Why was Purbaya replaced?

The government has not provided one specific reason publicly. Some analysts have linked the change to issues surrounding fiscal management and investor confidence, but these are not official reasons stated by the government.

Who replaced Purbaya as Finance Minister?

Purbaya was replaced by Suahasil Nazara, who previously served as Deputy Finance Minister. Suahasil was inaugurated on September 14, 2026.

Will Purbaya return to trading?

Purbaya's son said that his father would return to trading after no longer serving as a minister. However, there has been no official announcement regarding Purbaya's next professional activity.