{
  "id": 12036606,
  "title": "Frans Seda, finance minister during a difficult period",
  "url": "https://urgent.news/2026/10/03/frans-seda-finance-minister-during-a-difficult-period",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-03T00:30:39.000Z",
  "source": {
    "name": "The Jakarta Post Academia",
    "slug": "the-jakarta-post-academia",
    "url": "https://www.thejakartapost.com/opinion/2026/10/03/frans-seda-finance-minister-during-a-difficult-period.html"
  },
  "original_language": "en",
  "account": "Frans Seda, who served as finance minister during Indonesia's economic crisis from 1965 to 1966, played a crucial role in stabilizing the nation's finances. During this period, hyperinflation was rampant and the economy was in its lowest point with inflation soaring to 650 percent. As finance minister, Seda worked alongside Radius Prawiro, the governor of the Central Bank, to address the severe monetary issues. Seda implemented a balanced budget, floating exchange rate, and market mechanisms, which were documented in Regulation issued on October 3, 1966. This led to a significant decline in inflation, falling to 185 percent in the first year, 138 percent the following year, and finally reaching single digits in the 1970s. Seda's tenure also saw him become plantations minister, where he had to manage various competing interests and overcome obstacles such as foreign exchange earnings from exports. Upon retiring from finance, Seda served as transportation minister from 1968 to 1972, where he played a key role in establishing shipping and air services, and ensuring every province had an airport.",
  "summary": "Frans Seda played a pivotal role in navigating Indonesia’s economic crisis from 1965 to 1966. As finance minister, he helped restore stability amid hyperinflation, while his wider career reflected a lifelong commitment to Indonesia’s political, economic and social development.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}