Agus Martowardojo Is Indonesia's New Finance Minister

JAKARTA, May 19 (Bernama) - Agus Martowardojo, President Director of Bank Mandiri, has been named as the new Finance Minister of Indonesia.

He succeeds Sri Mulyani Indrawati who will assume the post of Managing Director of the World Bank in Washington beginning June 1.

Agus's selection was announced by President Susilo Bambang Yudhoyono at a press conference at his private residence in Puri Cikeas, Bogor tonight.

Agus had been President Director of Bank Mandiri since 2005 and he was said to have succeeded in guiding the bank to become one of the leading banks in Indonesia.

Susilo also announced the appointment of Anny Ratnawati, who is currently the Director-General of Budgeting, Ministry of Finance, as the Deputy Finance Minister.

"I find the two leaders to be efficient in carrying out their tasks, have the necessary capacity and are of high integrity and have the right experience and knowledge to undertake the tasks of minister and deputy minister," he said.

Both Agus and Anny will take their oath of office at Istana Negara tomorrow afternoon