Foreign Minister: World Bank And IMF Appreciate ASEAN Economic Resilience

JAKARTA - Minister of Foreign Affairs Retno Marsudi said that World Bank President Ajay Banga and International Monetary Fund Implementing Director (IMF) Kristalina Mariawa praised ASEAN's economic resilience amid slowing economic conditions due to the pandemic and war.

This view was conveyed during the Plenary Session of the 43rd ASEAN Summit (KTT) which was held at the Jakarta Convention Center.

According to Retno, in a meeting with ASEAN leaders, the IMF said that the global economy was slowing down due to the pandemic and war, growing by only three percent, which was the lowest figure in a decade compared to before the pandemic.

"However, ASEAN has a high growth rate, the projection is 4.9 percent," said Retno to reporters as reported by ANTARA, Tuesday, September 5.

Previously, when meeting with President Joko Widodo at the Merdeka Palace on Monday (04/09), haphawa said that ASEAN was a bright spot in the midst of an uncertain world situation. According to the IMF, ASEAN also contributes 10 percent of global economic growth.

"ASEAN can be an example of global cooperation. Some of the suggestions submitted include investment in the fields of health, education, digital infrastructure," said Retno.

Meanwhile, the World Bank conveyed global economic predictions and mentioned the challenges of climate change. Like the IMF, the World Bank also provides almost the same advice, namely for ASEAN to invest in structural reforms, human resources, a sustainable economy and digitalization.

ASEAN Secretary General, Kao Kim Hourn, also submitted his report in the plenary session, saying that the High Level Task Force (HLTF) had compiled the Vision of the ASEAN Society 2045.

He also said that more and more countries want to access Friendship and Cooperation Contracts (TAC) with ASEAN in the past year.

"In this one year there are four additional countries that access TAC so that a total of 54 countries (accessing countries) are available," said Retno.

Furthermore, the Secretary General of ASEAN also reported that ASEAN's trade, which grew 14.9 percent, reached USD 3.9 trillion (IDR 59,627 trillion), foreign investment or foreign direct investment (FDI) reached USD 222 billion (IDR 3,394 trillion), and intra-ASEAN trade continued to increase.

"This proves that ASEAN has enormous economic potential. Intra-ASEAN trade rose 22.3 percent and this also proves ASEAN's internal trade relationship is becoming more solid," said Retno.