Event demonstrates Indonesia’s role in overcoming challenges and problems at the world level

G20 Presidency, Finance Ministers: An event to show Indonesia’s role in overcoming challenges and problems at the world level

Jakarta, October 12, 2021 MoF – Finance Minister Sri Mulyani Indrawati announced that the main agenda of Indonesia’s G20 presidency will focus on three areas, including health, digital transformation and energy transition, as directed by the President of the Republic of Indonesia. It is expected that Indonesia’s G20 presidency will not only achieve fair vaccination, but also accelerate digitization and steer global political coordination related to financing climate change.

“The Indonesian Presidency will be an opportunity for Indonesia to demonstrate its role in leading global forums to address various challenges and issues at the world level. Indonesia is determined to address the remaining global challenges and seek the best solutions, ensure that all countries can recover together, and promote policy reforms that support stronger, sustainable, balanced and inclusive economic growth after the pandemic. Therefore, the Indonesian G20 Presidency is taking on the topic of Recover Together, Recover Stronger, ”said the finance minister in a press release on Thursday (09/12).

Indonesia’s G20 Presidency on Finance officially began on Thursday (09/12) with the first meeting of the Financial and Central Bank Representatives (FCBD) from December 9-10, 2021. To maintain sustainability and strengthen global cooperation, included the FCBD meeting, the presence of the Troika Finance Ministers, namely the Indonesian Finance Minister Sri Mulyani Indrawati, the Italian Finance Minister Daniele Franco and the Indian Finance Minister Nirmala Sitharaman, in a hybrid high-level discussion on various priority agendas to deal with economic challenges.

Treasury Department and Bank Indonesia will promote the discussion of six priority agendas in the financial channel, namely coordinating exit strategies in support of global recovery, efforts to deal with the impact of the pandemic (appalling impact) on the economy, in order to achieve stronger growth in the future , Strengthening payment systems in the digital age, developing sustainable finance, improving an integrative financial system and an international tax agenda.

Indonesia’s G20 Presidency will also address several legacy issues, including integrating pandemic and climate risks into global risk monitoring, strengthening the Global Financial Safety Net (GFSN), increasing capital flows, continuing data gap initiatives and improving financial sector regulatory reform.

Other topics that will also be discussed are strengthening debt management and transparency, accelerating the infrastructure agenda towards sustainable and inclusive development, optimizing funding support from multilateral development banks (MDBs), strengthening the health system’s capacities in pandemic prevention, – preparedness and response, and continued support to attract private sector investment in low-income countries such as the African region.

The priority agenda and legacy of the Indonesian G20 presidency is expected to align the global agenda with national priorities and interests and align the interests of various parties, both developed and developing countries. (dep / nug / hpy)

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