Minister Of Finance Sri Mulyani Invites G20 Countries To Be At The Forefront Of Strengthening Global Health Architecture

Illustration (Photo: National Committee of the G20 Presidency of Indonesia)

JAKARTA – G20 financial leaders agreed to strengthen global cooperation in overcoming the pandemic condition and preparing for similar events in the future. This step was taken considering that the capacity to deal with health threats varies widely across countries.

This is the commitment that was made at the Finance Ministers and Central Bank Governors (FMCBG) meeting which was held in a hybrid manner from Jakarta.

Minister of Finance (Menkeu) Sri Mulyani said the G20 must be at the forefront of the process of strengthening the global health architecture.

"It takes a strong commitment and greater investment than ever before to overcome the current pandemic and mitigate its impact by mobilizing health resources," he said in an official statement quoted Friday, February 18.

According to the Minister of Finance, one of the gaps currently encountered in the global health architecture is the issue of financing. Therefore, he continued, the presence of the Joint Finance and Health Task Force (JFHTF) is expected to be able to build inclusive financing facilities.

“The COVID-19 pandemic crisis has demonstrated the critical need for international funding flows. However, in order to achieve this, a solid funding gap assessment is needed by involving various parties," he said.

Indonesia through the Minister of Health Budi Gunadi Sadikin highlighted three priorities to achieve a stronger global health architecture. First, increasing global health resilience.

Second, aligning global health protocol standards, and third is the redistribution of global manufacturing centers and research centers to reduce future health vulnerabilities.

On the same occasion, US Treasury Secretary Janet Yellen said that the G20 wanted the global community to unite and act together and ensure that no country was left behind.

Meanwhile, Governor of Bank Indonesia Perry Warjiyo revealed that strengthening the global health system with a sustainable financing mechanism is a crucial part of the exit strategy towards Recover Together and Recover Stronger.

"Thus, the President of the G20 Indonesia is committed to pushing this agenda to deliver concrete results in 2022," he said.