TEMPO.CO, Jakarta – Coordinating Minister for Economic Affairs Airlangga Hartarto emphasized that the 2026 MSCI review results are a momentum to accelerate reforms within Indonesia’s capital market. According to him, retaining Emerging Market status proves that national economic fundamentals and market accessibility remain robust.
“The government appreciates MSCI’s feedback as part of our collective effort to improve the quality of the capital market,” Airlangga stated in a written release on Wednesday, June 24, 2026.
He noted that the administration’s focus is to ensure that reform agendas move beyond policy announcements, demanding consistent execution to yield real impact on market transparency, integrity, and investor trust.
Through steady reforms, anchored by strong economic fundamentals and maintained macroeconomic stability, he expressed confidence that Indonesia’s capital market will grow increasingly transparent, efficient, and credible. These efforts are expected to enhance Indonesia’s attractiveness as a main regional investment destination while cementing its status as an Emerging Market.
Global index provider MSCI Inc. released the outcomes of its 2026 Market Classification Review on June 23, 2026, local time. In this year’s assessment, MSCI chose not to downgrade Indonesia, skipping any consultations regarding a potential reclassification from an Emerging Market to a Frontier Market. Consequently, Indonesia holds its ground in the Emerging Market category, remaining a fixture for global investment portfolios.
According to Airlangga, the decision reaffirms that the domestic capital market still satisfies the core criteria of a developing economy and retains its position within the global investment landscape.
Amid shifting international economic dynamics and lingering financial market uncertainties, he argued that the decision reflects institutional confidence in Indonesia’s economic fundamentals and the various reform initiatives spearheaded by the government alongside financial sector regulators.
He added that the government views the review through a positive yet balanced lens. Preserving the Emerging Market status demonstrates that Indonesia’s overall market accessibility remains fully intact, while specific notes from MSCI offer constructive input to tighten the governance of the national capital market.
The government also highlighted that MSCI recognizes Indonesia’s recent reform measures as strides in the right direction, emphasizing that future success hinges on the consistency of implementation and sustainable long-term impacts rather than policy announcements.
Read: OJK Pledges More Reforms After MSCI Reviews Indonesia
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