Inside the Palace: How Prabowo’s Circle Is Unnerving Investors

Inside the Palace: How Prabowo’s Circle Is Unnerving Investors Unpredictable state intervention under Indonesia’s president is turning the emerging-market darling into a global laggard. As Indonesia’s currency dropped toward fresh lows earlier this month, President Prabowo Subianto and several top cabinet members joined thousands of supporters to perform breathing and stretching exercises with American motivational speaker Tony Robbins. The scene unsettled key business elites and some members of the establishment who attended the June 3 event to celebrate Prabowo’s signature free meals program, according to people familiar with the matter, who requested anonymity to discuss sensitive matters. To them, it epitomized Prabowo’s lack of urgency in finding solutions for a falling currency, the world’s worst-performing stock market and billions of dollars of withdrawals by foreign investors.