Indonesian president to name technocrat as new finance minister

  Indonesian President Susilo Bambang Yudhoyono will announce and install a technocrat as the country's new finance minister, senior minister said here Monday. The new minister will replace Agus Martowardojo who left his position for central bank governor. To fill the vacant position, President Yudhoyono has appointed Coordinating Minister for Economy Hatta Rajasa as acting finance minister. "The new finance minister is a professional, of course (he is) from non-political party. The installment will be conducted this week, it could be Tuesday or Wednesday," Minister Hatta said at the State Palace. Technocrats have typically been appointed to run the country's finance ministry. The appointment of a professional as the new finance minister may abolish concern that the financial sector is handled by those non-professional. Hatta was a temporary finance minister after former finance minister Sri Mulyani Indrawati became the managing director of the World Bank in 2010. President Yudhoyono is to end his second term of presidency in 2014.