The chief of Indonesia‘s financial regulator and other officials of the body resigned on Friday in order to take “responsibility” for a massive market selloff this week, a statement from the financial regulator said, a day after an $80 billion market sell-off.
Earlier in the day, the chief of the IDX stock exchange also resigned after the market rout that began on Wednesday after a warning from index provider MSCI of a possible downgrade because of issues of transparency at the exchange.
The statement said Mahendra Siregar, the chief of the Financial Services Regulator – also known as OJK – resigned along with other officials, including the chief executive of capital markets as a “moral responsibility” to support the necessary recovery steps.
The OJK said that the resignations would not affect the implementation of the regulator’s duties.
Reuters
