Indonesia encourages global cooperation to create a fair economic basis

Indonesia encourages global cooperation to create a fair economic basis

Jakarta, September 12th, 2021 Ministry of Finance – The first meeting of finance and central bank representatives (FCBD) has officially started on the island of the gods, Bali, as a milestone for the implementation of the Indonesian G20 presidency in the financial sector. The pandemic is still ongoing and affecting all aspects of human life. A better future for the world requires working with the countries of the world to build fair economic foundations and financial systems for a stronger, more efficient, more inclusive and sustainable recovery and growth of the world economy. .

“Indonesia is determined to address the remaining global challenges and find 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” said the Minister of Finance (Menkeu) Sri Mulyani Indrawati in a press conference: The Indonesian G20 Presidency kicked off the budget, Thursday (09/12).

Today’s FCBD meeting was attended by the troika finance ministers, namely the Italian finance minister, the Indonesian finance minister and the Indian finance minister, who discussed various priority agendas in the high-level discussion forum. In the discussion on Recover Together: Policy Setting for Smooth Exit Strategy and Recover Stronger: Addressing Scarring Effect to Secure Future Growth, panelists from the International Monetary Fund (IMF), the Financial Stability Board (FSB), the World Health Organization (WHO.)), World Bank, Bank for International Settlements (BIS) and Organization for Economic Cooperation and Development (OECD).

Today’s meeting will serve as a reference for the next G20 meetings in 2022. Indonesia invites the world to focus on working together on post-pandemic recovery and sustainable development.

“The Indonesian Presidency will provide an opportunity for Indonesia to demonstrate its role in leading global forums to address various challenges and issues at the world level,” concluded the Finance Minister.

Under the motto “Recover Together, Recover Stronger”, Indonesia’s G20 Presidency will not only oversee the six priority agendas, but will also continue the legacy agenda to be discussed in working groups, namely the integration of pandemic and climate risks into global risk monitoring, strengthening the global financial safety net, increasing capital flows. , Continuation of the data gap initiatives, improving debt transparency management, accelerating the infrastructure agenda towards sustainable and inclusive development, optimizing funding support from multilateral development banks (MDBs), strengthening health system capacities and further support to attract private sector investment. (dj / mr / hpy)

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