BI Boss Perry Warjiyo Reveals Four Real Challenges Of Central Banks In The Pandemic Era

JAKARTA - Bank Indonesia (BI) Governor Perry Warjiyo said that the central bank has four challenges in dealing with new civilizations due to the COVID-19 pandemic. The first is endurance or resilience. The second is digitalization, the three inclusions, and the fourth is the green economy.

According to him, BI as a monetary institution in the country is also facing the same dynamics.

“We are trying to implement the central bank's policy mix which will continue, not only related to interest rate policy, but also to maintain exchange rate stability. This is the first aspect,” he said virtually when opening the 15th International Bulletin of Monetary Economics and Banking (BMEB) conference, Thursday, September 2.

Second, continued Perry, BI continues to encourage economic and financial digitization by continuing to support the acceleration of digital banking, fintech, e-commerce, and the payment system industry.

Then, the third is to coordinate with the government in strengthening economic recovery, including supporting and promoting MSMEs.

"To support this, BI does not only develop MSMEs but also onboarding programs to support MSMEs Go Digital. And fourth, green economy and finance through the support of environmentally friendly macroprudential policies, including green financing policies," he said.

For information, the BMEB international conference held on 2-3 September 2021 is a meeting place for talented researchers from various parts of the world.

This year's agenda presented 53 of the 200 best scientific papers in the fields of economics, monetary and finance, both from within and outside the country. The best writings came from 12 countries, including Indonesia, Malaysia, USA, Turkey, Singapore, Australia, Pakistan, China, India and Canada.

BMEB itself is considered a scientific journal as a catalyst that connects various thoughts to advance science and empower policy formulation in the global era.

"BI continues to encourage BMEB to make a real contribution to national economic development, by making it a leading international journal and scientific reference in the fields of economic, monetary and financial theory and policy for developing countries," concluded Perry.