Jusuf Wibisono

Jusuf Wibisono (EVO: Joesoef Wibisono; 28 February 1909 – 15 June 1982) was an Indonesian politician and economist.

Jusuf Wibisono was born on 28 February 1909 in Magelang, today in Central Java, as the third child of four children.

After completing his education at a Hollandsch-Inlandsche School (HIS), he continued to a Meer Uitgebreid Lager Onderwijs (MULO), although his father, Kunto Wibisono, had wanted him to study to be a teacher.

Afterwards, he briefly studied at the STOVIA medical school before dropping out due to being unfit.

Instead, he continued his education at a Algemene Middelbare School (AMS) in Bandung.

During his studies, Wibisono became active in the Jong Islamieten Bond youth organization, and in 1934 along with Mohammad Roem he co-founded a branch that catered to secondary students, the Studenten Islam Studieclub.

He had begun to work at the colonial government before completing his law degree, first at the economic department and then in the central statistics office.

He became a commercial judge during the Japanese occupation of the Dutch East Indies.

Following the proclamation of Indonesian independence, Wibisono was appointed into the Central Indonesian National Committee (KNIP), and became a member of the KNIP's working body.

He was later appointed Junior Minister of Prosperity in the Third Sjahrir Cabinet.

After the conclusion of the Indonesian National Revolution, Wibisono joined the Provisional People's Representative Council as a member of the Masyumi Party.

He was a critic of the Natsir Cabinet, despite Mohammad Natsir being in the same party.

Wibisono instead was affiliated more closely to Soekiman Wirjosandjojo.

He then continued to the Rechtshogeschool in Batavia, graduating with a Meester in de Rechten in 1941, shortly before the Japanese invasion of the Dutch East Indies.

He was an ardent opponent of the Communist Party of Indonesia, and he attempted to organize the Masyumi to work with President Sukarno during the late 1950s to oppose the communists.

Instead, Wibisono was sidelined in the party before being arrested by the government in crackdowns due to Masyumi involvement in the PRRI rebellion.

Following the fall of Sukarno, he and former Prime Minister Soekiman Wirjosandjojo considered establishing their own political party, though they decided against it.

A member of the Masyumi Party, he served as Minister of Finance from 1951 until 1952 and again from 1956 until 1957, under the Soekiman and Second Ali Sastroamidjojo cabinets.

Originating from Magelang, Wibisono took part in Islamic organizations in the nationalist movement from his school years.

He joined Masyumi during the Indonesian National Revolution, and became a leading member within the party despite disagreements with other party leaders such as Mohammad Natsir.

In both of his tenures as finance minister, he relaxed the tight budgetary controls of his predecessor, and provided favors to political parties.

In March 1951, he even publicly urged the resignation of the Natsir cabinet, citing the failure to arrange a conference on Western New Guinea.

He was then appointed as minister of finance in Soekiman's cabinet, announced on 26 April 1951.

In his first press conference after being sworn in, Wibisono announced the nationalization of De Javasche Bank, the colonial central bank.

The nationalization process under Wibisono was voluntary – that is, shares were purchased at above market price – and Wibisono noted that he would not be immediately replacing foreign staff with Indonesian ones.

By October 1951, the government had taken over 97 percent of the company's shares, and by December the bank was officially nationalized.

He later served in the bank's council of advisors in-between his ministerial tenures.

Wibisono was noted for his relatively lax approach to finances compared to his predecessor Sjafruddin Prawiranegara.

During his first tenure, which saw strong government finances from increased exports, he arranged for government-owned banks to loan money to politically affiliated firms, bonuses to civil servants, and less strictly controlled government budgets in general.

He was replaced by Sumitro Djojohadikusumo in the succeeding Wilopo Cabinet.

Between his first and second tenures, Wibisono worked at a Dutch car importer.

He also accepted a job as a chairman of a Japanese bank, under the condition that his name not be listed on the bank's board register.

He had engagements with Chinese Indonesian businesses.

In 1953, he was appointed chairman of the Union of Muslim Workers of Indonesia (SBII), the labor organization wing of Masyumi.

He made speeches denouncing communism and the Soviet Union, and led a Masyumi opposition to establishment of diplomatic relations in 1953–1954.

In November 1954, he tabled a motion of no confidence against the Ali Cabinet, in particular attacking the policies of Economic Minister Iskaq Tjokroadisurjo, perceived to be favoring the Indonesian National Party (PNI).

He served at this post until 1966.

He made public statements calling for the increase of the work day (from seven hours to eight), and was briefly examined by prosecutors after criticizing members of the First Ali Sastroamidjojo Cabinet.

Instead, Wibisono joined the ranks of the Indonesian Islamic Union Party (PSII), but the PSII's poor performance in the 1971 Indonesian legislative election led him to retire from politics.

He died in 1982 at Dr. Cipto Mangunkusumo Hospital.