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Oleh Irvina Falah, Senin, 15 Oktober 2018 | 16:05 WIB - Redaktur: Irvina Falah - 777
Nusa Dua, Bali - The Bali IMF-WBG Annual meeting has confirmed Bali and Indonesia as an excellent host for international meetings. Bali hosted world leaders, business leaders and over 14,097 foreign delegates. The participants who attended the Bali 2018 AM IMF-WBG reached through MTS (IMF-WBG) 15,049 registrants and through National Committee 21,620 non delegates registrants, thus in total are 36,669 participants.
President of the World Bank Group, Jim Yong Kim, speaking in Indonesian language, delivered heartfelt sympathies to the families of Palu and Donggala, announcing the WBG was ready to support the people of Indonesia. A facility of USD 1 billion has been prepared, to support the reconstruction of the infrastructure of Central Sulawesi and to help Indonesia better prepare for future disasters.
President of Indonesia His Excellency Joko Widodo, known as President Jokowi commented that despite the economic success of the United States, middle income countries were experiencing significant pressure on their economies, encouraged to open their economies, provide, open markets and open finance. Providing many benefits to both developed and developing countries, but warned that “winter is coming” as in The Game of Thrones, where the world needs to unite to overcome their differences to succeed in defeating the evil Ice king that threatens endless winter.
President Jokowi highlighted the threats to our existence, - climate change, and plastic waste entering the food chain, the need for urgent action at a massive scale to avoid the impending crises. Is it the right time to increase global competition? or perhaps, more sensible to prioritise global cooperation.
The president finished his speech urging the participants, - to encourage the decision makers of the world to generate financial and monetary policies that are able to overcome the negative impact of trade wars, disruptive technologies and market uncertainties.
Both the managing director of IMF, the president of the WBG and Chairman of the AM lauded Indonesian President presentation. Light-heartedly they, the IMF and WBG heads, mentioned that after President Jokowi’s speech that, - they (IMF and WBG) could both go home.
Ms. Lagarde further thanked the host country for organising such a productive meeting and quoted one of President Jokowi’s other analogies, - that of the theme of this meeting of Voyage to Indonesia: “It is important to steer the boat. Do not drift, and sail together, because we will be stronger together. What it means is focus on your policies. Make sure that they are the right ones in the face of economic developments. Do not drift, and let's cooperate as much as we can because we are stronger together. The most important part of the conference will probably be seen to be the 12 point Bali FinTech Initiative, which clearly lays out how countries like Indonesia could maximise the impact of the Financial Technology revolution,” interpreting President Jokowi speech on hers.
The Chairman of the National Committee Luhut Binsar Pandjaitan also thanks his Committee of 2018 AM IMF-WBG teams for the work they perform by activating the event tremendously well: “Well done, everything is excellent, it is beyond our expectation,” he added, “We couldn’t imagine how it would properly executed, - Congratulations!” stated at the Joint Editors of Indonesia Communications Centre in the same Nusa Dua official campus.
The Bali 2018 AM IMF-WBG organises 325 main and side events, 2,925 business events and 1,540 parallel events. The organising committee also facilitates more events that taking place outside the main sites.
Indonesia as a host country of Bali 2018 AM IMF-WBG gains a list of benefits: from knowledge transfer, investment and trade, tourism and lifting Indonesia leadership to the global fora; to foreign exchange income and short-term economic benefit around 5,9 trillion IDR during the event that is visited and attended 36,669 people comprising mostly private sectors for their transportation, accommodation, food and beverages, shopping and entertainment, including nature and cultural tourism.
Further Information please, contact:
Susiwijono Moegiarso
+62 822 6003 9909
susiwijono@ekon.go.id
Chief Executive of the 2018 AM IMF-WBG National Committee
Note to Editor:
IMF is hosting side events besides plenaries as the main events at the Bali Annual meeting discussing around the Global Economy. The World Bank Group is hosting events exploring Human Capital, achieving inclusive growth, including urbanisation, tax and inequality, how peer-to-peer technology could harness technology for growth, how to reach the SDGs, issues facing different regions. Both in joint meetings discussing Financial Technology (FinTech) Agenda in Bali 2018 AM IMF-WBG in Nusa Dua.
The World Bank Group is hosting events exploring human capital, achieving inclusive growth, including urbanisation, tax and inequality, how peer-to-peer technology could harness technology for growth, how to reach the SDGs, issues facing different regions, - focussing on Asia and Africa, how famine could be mitigated, how development can be financed, - using the global financing facility, Islamic finance roundtable, green financing and the Bali FinTech Agenda.
The international Financing System will require strengthening through normalising monetary policy across developed countries, to minimise challenges faced by developing countries, finishing the on- going IMF Governance reforms and ensuring the Global Financial Safety Net (GFSN) is strengthened through Regional Financing Arrangements.
Indonesia as a developing country will need to develop a second line of defence, policies responding to the emerging policy from developed countries, to minimise trade imbalance risks.
