Ali Wardhana

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Ali Wardhana (6 May 1928 – 14 September 2015), more colloquially known as Bung Ali, was an Indonesian professor and economist, who served as the third Coordinating Minister for Economics, Finance, Industry, and Development of Indonesia from 1983 until 1988 and the 21st minister of finance of Indonesia from 1968 until 1983. He was one of Indonesia's most senior economic policy-makers during the New Order regime of President Suharto, being a member of the influential Berkeley Mafia, a group of American-educated Indonesian economists who shaped the Indonesian economy during the New Order. He was the longest-serving Minister of Finance, as well as the fifth longest-serving minister in Indonesian history. He was born on 6 May 1928, in the city of Surakarta. He studied economics at the Faculty of Economics of the University of Indonesia (UI) in 1958. Subsequently earned a Master of Arts in 1961 and a doctorate in economics from the University of California, Berkeley. He returned to Indonesia in 1967 and was appointed as the Dean of the Faculty of Economics of UI, replacing Widjojo Nitisastro. Less than one year later, he became Minister of Finance in the First Development Cabinet of Indonesian President Suharto. As finance minister, he tackled rising inflation, reducing it to 10% in 1969, from a high 650% in 1966. He also liked to conduct unannounced inspections and managed to apprehend corrupt officials and smugglers. Under his leadership, there were two devaluations of the Rupiah, which occurred in 1977 and 1978. In 1983, he was transferred to the position of Coordinating Minister for Economics, Finance, Industry, and Development of Indonesia in the Fourth Development Cabinet, replacing Radius Prawiro, who took over as finance minister. After leaving the government in 1988, Ali continued to advise the government on its economic and financial policies. Ali died...