World Bank President Robert B. Zoellick on May 5 announced the appointment of Indonesian finance minister Sri Mulyani Indrawati as managing director of the World Bank Group.

According to a release from the bank, Indrawati is to officially assume her new position on June 1. She will supervise the WB’s operations in Latin America and Caribbean, Middle East and North Africa, and East Asia and Pacific.

Indonesian President Susilo Bambang Yudhoyono has approved her resignation to take on the new position.

As Indonesia’s finance minister since 2005, Indrawati has been a policymaker who has successfully navigated the island country in the midst of the global economic crisis.

Prior to being finance minister, she served as coordinating minister of economic affairs, State Minister and Chair of the National Development Planning Agency and an executive director on the Board of the International Monetary Fund./.