JAKARTA -- Indonesia moved closer to establishing a new $5.3 billion sovereign wealth fund on Wednesday, with President Joko Widodo appointing five members for its advisory board.
Finance Minister Sri Mulyani Indrawati was named head of the board that will oversee the Indonesia Investment Authority, or INA. The other members are State Enterprise Minister Erick Thohir and three professionals with experience from cross-border investments to corporate deals. The five were sworn in during a ceremony at the presidential palace.
