David Sexton

Danantara: a new hope or a phantom menace?

The establishment of Danantara, Indonesia’s new sovereign wealth fund (SWF), has sparked both optimism and scepticism. Modelled after successful SWFs like Singapore’s Temasek and Malaysia’s Khazanah, Danantara is expected to optimise the management of state-owned assets, drive economic growth, and enhance national welfare.

This past week has seen what some have argued are the first big mobilisations of the new Prabowo government, with coordinated student protests across 12 cities under the banner of “Indonesia Gelap”, or “Dark Indonesia”.

The students list a number of demands, from human rights to environmental issues, but the trigger for these protests lie in deep budgetary cuts initiated across the public service, to the tune of US$44 billion. The worst ministries and agencies — including the Ministry for Manpower and the Ministry for Public Works — have proposed cuts of up to 55%. The National Consumer Protection Agency is being cut a whopping 73%. Meanwhile, the National Police, the Ministry of Defence and the Supreme Court are seeing cuts of around 15-16%.

Myth, art and science

At Indonesia Bertutur 2024, a biannual festival exploring Indonesia’s cultural heritage through contemporary art, the historic gardens of Bali’s Museum Puri Lukisan became the stage for Amrta, a multimedia installation by artist Indah Arsyad.

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