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FORMER Indonesian Ambassador to the United States, Dino Patti Djalal, has dismissed the claim that Singapore is conspiring to undermine Indonesia’s economy through Morgan Stanley Capital International (MSCI) as nonsensical. It should be noted that MSCI has proposed downgrading Indonesia’s status to a “Standalone Market.”
Dino explained that such a notion is unrealistic, given that Singapore is a neighboring nation with a long history of positive cooperation with Indonesia.
“The view currently circulating—that Singapore is conspiring to bring down Indonesia’s capital market, sabotage its economy, and use MSCI to seize Indonesian assets through a ‘fire sale’—is entirely irrational and far removed from the actual reality,” he stated, as quoted from his official Instagram account, @dinopattidjalal, on Thursday (10/22), 2026.
According to him, history demonstrates that Singapore has consistently been willing to assist Indonesia—ranging from support during natural disasters like the tsunami and various earthquakes, to navigating the monetary crisis and the COVID-19 pandemic. This extends to cooperation in investment, education, the development of Batam, Bintan, and Karimun, as well as the industrial zone in Kendal (Central Java) and military collaboration.
He noted that Singapore plays a significant role in the stability of Indonesia’s politics and economy; should Indonesia face economic or political turmoil, Singapore would be among the nations directly affected.
“Therefore, for a small nation geographically sandwiched between Indonesia and Malaysia, it is effectively taboo—and entirely out of the question—for Singapore’s political elite to conspire to harm Indonesia. Just as it would be equally taboo and unacceptable for Indonesia to seek to harm Singapore,” he said.
Conversely, he believes that Singapore’s policies toward Indonesia are aimed at preserving cooperation and maintaining mutual trust. Dino further remarked that treating Singapore as an adversary—and harboring suspicion toward the country—is fundamentally contradictory.
Dino also touched upon the issue of transboundary haze originating from Indonesia, which has historically impacted Singapore. He noted that this issue actually presents an opportunity for the government—under the leadership of President Prabowo Subianto and Vice President Gibran Rakabuming Raka—to address the problem of forest and land fires through prudent diplomacy.
“It is a question of how Indonesia can maintain good neighborly relations during difficult times, and how Indonesia—as a nation widely regarded as a natural leader in Southeast Asia—can manage this haze crisis in a way that reinforces its stature rather than diminishing it,” he said.
He pointed to the response to the 2004 Aceh and Nias tsunami as an example, noting that Indonesia successfully coordinated efforts with neighboring countries and other nations to handle the disaster.
“As a result, global respect for and trust in Indonesia grew even stronger,” Dino concluded. [bisnis.com/photo special]
