Sri Mulyani Indrawati
Sri Mulyani Indrawati
Full Name and Common Aliases
Sri Mulyani Indrawati is the full name of the Indonesian economist who served as the Minister of Finance from 2004 to 2010. She is often referred to by her initials, SMI.
Birth and Death Dates
Born on August 26, 1962, Sri Mulyani Indrawati is still active in public life and has not passed away.
Nationality and Profession(s)
Sri Mulyani Indrawati holds Indonesian nationality and is a professional economist. Throughout her career, she has worked extensively in finance and development policy, holding various positions at national and international levels.
Early Life and Background
Indrawati was born in Jakarta, Indonesia. Her early life was marked by academic achievement; she earned a Master's degree in Economics from Cornell University in the United States. This academic background would later form the foundation for her future career as an economist.
Growing up in Indonesia during a time of significant economic change likely influenced Indrawati's interest in economics and public policy. Her exposure to these issues at a young age may have sparked her desire to contribute to Indonesia's development through public service.
Major Accomplishments
Sri Mulyani Indrawati has had a distinguished career, marked by several key accomplishments:
As Minister of Finance from 2004 to 2010, she implemented significant fiscal reforms in Indonesia. These included the establishment of a new tax code and the introduction of value-added tax (VAT), which aimed to broaden the country's tax base and increase revenue.
Indrawati played a crucial role in shaping Indonesia's development policy, focusing on poverty reduction and infrastructure development. Her tenure saw significant investments in education and healthcare, which have had lasting impacts on Indonesian society.
Notable Works or Actions
Some notable works and actions by Sri Mulyani Indrawati include:
She has written extensively on economic issues affecting developing countries, including articles published in international journals such as the World Bank Research Observer.
As Minister of Finance, Indrawati was instrumental in promoting sustainable development practices within Indonesia. This included initiatives aimed at reducing carbon emissions and protecting biodiversity.
Impact and Legacy
Sri Mulyani Indrawati's impact on Indonesian society is multifaceted:
Her tenure as Minister of Finance laid the groundwork for Indonesia's economic growth, which has continued to this day. The fiscal reforms she implemented have made a lasting contribution to the country's ability to manage its finances effectively.
Beyond her policy work, Indrawati has also contributed to international development efforts through her role at the World Bank.
Why They Are Widely Quoted or Remembered
Sri Mulyani Indrawati is widely quoted and remembered for several reasons:
Her commitment to public service and economic development in Indonesia has inspired many young professionals.
Her expertise in finance and economics, combined with her experience in policy-making, has made her a respected voice on global economic issues.
Quotes by Sri Mulyani Indrawati
Sri Mulyani Indrawati's insights on:
In middle-income countries, inequality becomes a problem because you can see there is a layer of people who are doing well, while the poor are still stuck there.
The confidence is really driven by the woman – whether she can have the confidence that there will be enough earning or income to finance all the domestic spending – but also by the middle-income class, which for many Asian countries has become the growth power for the economy.
Many developing countries are enjoying demographic changes. They have a younger demographic composition so they’re not burdened by legacy policy. Now, if you combine this with a good macro policy and ambitious structural policy, those countries are able to move more flexibly and be more agile.
I always enjoy the job and the work that I do, because that’s the condition that I attach in accepting any job. This way, I can really work and dedicate myself to the institution for achieving the goal which I believe is a noble one.
We now know that climate action does not require economic sacrifice. This is fully in line with the World Bank Group's findings. It is up to all of us to make smart policy choices that will help combat climate change. For example, putting a price on carbon is a necessary step and could drive resources and investments to a cleaner economy.
Changing much-cherished bank secrecy laws is worth the effort. Corruption, tax evasion, and the capture of natural resource revenues undermine the rule of law, weaken the social fabric, erode citizens' trust in institutions, fuel conflict and insecurity, and hamper job creation.
Being able to save, make non-cash payments, send or receive remittances, get credit, or get insurance can be instrumental in raising living standards and helping businesses prosper. It helps people to invest more in education or health care.
In the 1990s, I was among those Indonesians who demanded and celebrated the departure of our own autocrat, Suharto, and I joined the new government when he left.
If managed well, urbanization can create enormous opportunities: allowing innovation and new ideas to emerge, saving energy, land and natural resources, managing climate and the risk of disasters.