Airlangga: The G20 Presidency Is A Hope For Global Economic Recovery

Airlangga Hartarto/DOC VIA ANTARA

JAKARTA - Coordinating Minister for the Economy Airlangga Hartarto said the G20 presidency to be held in Indonesia in 2022 is a global hope for equitable economic recovery for all countries.

"Indonesia's G20 presidency is not only a great challenge but also hope. With the theme 'Recover Together, Recover Stronger', Indonesia encourages joint efforts for world economic recovery. As underlined by Indonesian President Joko Widodo, the main principle that must be adhered to is sustainable growth. inclusive, community-centered, environmentally friendly, and sustainable," he said in a written statement, Sunday, November 21.

According to Airlangga, this principle is also in line with increasing productivity, increasing resilience, and ensuring economic and financial stability throughout the world.

Airlangga said one of the priorities in the G20 Presidency is to develop financing sources that can support each country's efforts to provide sustainable financing for climate change mitigation and adaptation as promised in The Glasgow Pact at COP26.

The agreement also marks a global effort to gradually reduce coal use to achieve a low-carbon economy.

Airlangga said Indonesia would try as much as possible so that the G20 could benefit all countries. Inclusivity is a top priority for Indonesia's leadership, with a commitment to ensuring no one is left behind.

Not only that, but Indonesia also reaffirmed its support for multilateralism. Deliberation and consensus have been embedded in the DNA of the nation and written in the constitution. Indonesia is committed to achieving effective multilateralism that delivers real work and delivers measurable results that benefit everyone.

"Global recovery efforts must be carried out in a systematic and coordinated manner. We must remain committed to strengthening global cooperation that will lead us to a better world after COVID-19. I am sure this cooperation will continue to advance and have a positive impact on us," he said.

Airlangga said the COVID-19 pandemic has given us the opportunity to reset and reshape the world in a way that is more in line with the Sustainable Development Goals (SDGs). Countries around the world have also committed to achieving the SDGs by 2030.

With the big challenges faced during the pandemic for every country, said Airlangga, efforts to accelerate the achievement of the SDGs must continue to be improved. This is where global cooperation is needed.

"Developed countries have managed the pandemic situation better, but many developing countries are still struggling to access vaccines," he said.

Based on data from The United Nations, there are 48 countries that face a high or very high risk of experiencing a 'lost generation' due to reduced educational opportunities, job losses, and constrained health care systems.

Therefore, Airlangga said that global cooperation in preventing prolonged crisis conditions needs to be carried out. Particularly in helping the poorest and most vulnerable countries, global partnerships in the form of financial support, deferred debt payments, and access to technology.

Not only that said Airlangga, but innovative financing mechanisms are also needed to close the SDGs funding gap, including through blended finance and sustainable private investment to revive the economy and create jobs.