February 1, 2026 | 10:00 am
THE conflict of interest surrounding Thomas Djiwandono’s nomination as Deputy Governor of Bank Indonesia (BI) reached as far as Switzerland. During the session “Central Banking Beyond the Mandate” at the World Economic Forum 2026, Swiss National Bank Governing Board Chairman Martin Schlegel seemed to take an oblique swipe at Indonesia’s central bank.
In the discussion on Tuesday, January 20, 2026, Schlegel examined the dilemma between economic growth and inflation, as well as the politicization of central banks’ roles in monetary policy. “Monetary credibility should not be sacrificed for the sake of short-term growth targets, as the consequences to be paid are a threat against efforts to control inflation,” he said.
The World Economic Forum is an annual gathering of heads of state, business leaders, and scholars held in Davos, Switzerland. The world’s largest economic forum addresses future economic challenges by looking at current events. In many sessions, discussions turned to political pressure and power dynamics that heavily influence economic policy and market mechanisms.
Ahead of the Davos meeting, the forum released its Global Risk Report 2026. In one section, it cited International Monetary Fund (IMF) projections showing global economic growth this year slipping below 3.1 percent. Economic stagnation, the report warned, stemmed from financial market corrections and the weakening independence of central banks.
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