News Summary

• Purbaya Yudhi Sadewa was replaced by his deputy Suahasil Nazara.
• Purbaya's time in office was marked by economic shocks, including a plummeting rupiah currency.
• His unconventional policies, which have broken from the country's fiscally conservative approach, were at the centre of growing concerns about how the economy is being run.
• Fitch and Moody's both downgraded Indonesia's credit rating outlook from stable to negative this year, citing policy uncertainty and fiscal spending plans.