Prabowo accuses MSCI of trying to intimidate Indonesia after market downgrade warning

Global index provider MSCI was trying to "intimidate" Indonesia but the country would not be afraid, President Prabowo Subianto told his Cabinet on Wednesday (Oct 21). MSCI had announced it could demote Indonesia's equities to "standalone" market status after it claimed the country had not adequately tackled coordinated trading practices in its stock market. "We have strength. We have courage. We are willing to make sacrifices. And we do not know the meaning of surrender," he said. "If necessary, we will implement extensive austerity measures." #indonesianews #indonesia Subscribe to our channel here: https://cna.asia/youtubesub Visit our website: https://cna.asia Download our app: https://cna.asia/app Get our editors' picks of stories via chat apps: Telegram: https://cna.asia/telegram WhatsApp: https://cna.asia/whatsapp Follow us on these platforms: https://www.facebook.com/channelnewsasia https://www.instagram.com/channelnewsasia https://www.tiktok.com/@channelnewsasia