Indonesia protests surge overnight, leaving at least three dead

Indonesia protests surge overnight, leaving at least three dead

Indonesia is grappling with a surge in protests following the death of a motorcycle taxi driver during clashes with police in Jakarta. The incident has fueled public outrage and raised questions about the handling of dissent by President Prabowo Subianto. The protests have led to at least three deaths and have caused significant market volatility.

On Thursday evening, an armored vehicle ran over the motorcycle taxi driver while trying to disperse crowds outside the Indonesian parliament. The fatality sparked widespread outrage and a late-night rally by fellow drivers. Students from the University of Indonesia have planned a demonstration outside the national police headquarters on Friday, demanding the removal of the police chief and accountability for recent arrests and violence against protesters [1].

President Prabowo Subianto has criticized the police for their handling of the unrest. He expressed shock and disappointment over the death of the taxi driver and promised to hold officers accountable. The president also called for calm and warned against "elements that always want to cause unrest and chaos" [2].

The unrest has heightened concerns about Prabowo's ability to manage political dissent. Rights groups have warned that a crisis of trust could unfold if those responsible for the fatality are not held accountable. Indonesian stocks fell as much as 1.3% on Friday, the most in two months, while the rupiah weakened by 0.5%, deeper than most Asian peers. Bank Indonesia has said it stands ready to intervene in the market to ensure the local currency is in line with fundamentals [1].

The recent protests in Jakarta have increased volatility in Indonesia’s markets. The rupiah, equities, and bonds have all come under pressure as investors reassess the risks of heightened policy uncertainty and social unrest. Several government meetings set for Friday have been cancelled, including the Finance Ministry’s monthly budget briefing and a separate national inflation coordination meeting where Prabowo was due to speak. Many companies have also instructed their employees to work from home [1].

The protests are part of a broader trend of unrest in Indonesia since Prabowo took office in October. In February, students and civil society groups protested his state budget revamp that threatened contract workers’ jobs, rolled back scholarships, and even dimmed the lights at government offices. The current protests have been fueled by anger over the death of the taxi driver and increased allowances for lawmakers at a time of economic uncertainty for many Indonesians [2].

References:
[1] https://www.bangkokpost.com/world/3095202/more-indonesia-protests-planned-after-1-killed-in-police-clash
[2] https://www.scmp.com/news/asia/southeast-asia/article/3323737/prabowo-disappointed-indonasias-police-over-protest-handling-i-am-shocked