Indonesia’s stock market has been rocked by a sharp sell-off after global index provider MSCI proposed downgrading the country from an emerging market to a standalone market, citing concerns over transparency and market oversight.

President Prabowo Subianto has pushed back against the move, declaring that Indonesia will not be intimidated.

What is behind the proposed downgrade and what could it mean for foreign investment and Indonesia’s economic outlook?

On The Big Story, Hongbin Jeong speaks to Adam Ahmad Samdin, Senior Economist at Oxford Economics, about the implications of the proposed downgrade and what lies ahead for Indonesia’s financial markets.

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