JAKARTA - Deputy Minister of Finance Suahasil Nazara said commitments regarding economic performance, energy transition, global health and fair international taxation play a very important role in overcoming poverty levels.
"It's all about providing sufficient resources so that we can tackle the problem of poverty," said Suahasil, quoted from ANTARA, Wednesday, July 27.
Suahasil said the four points were commitments from finance ministers and central banks from G20 member countries.
He explained that G20 members are committed to maintaining economic performance by using all policy instruments, including fiscal, monetary, development and employment.
G20 members also agreed to increase awareness, monitoring, and preparedness of the global health situation that affects economic performance.
The G20 also agreed to create a Financial Intermediary Fund (FIF) which will be the link between the economy and health.
The funds, which are a response to pandemic preparedness, have received commitments of up to 1.28 billion US dollars from a number of countries such as the United States, Europe and Indonesia.
"This will be managed by the World Bank under a certain governance framework which will be discussed under the World Bank framework," said Suahasil.
Meanwhile, the G20 has made commitments regarding sustainable finance through an energy transition, such as Indonesia, which will close coal-fired power plants (PLTU) and build more renewable energy power plants.
In the short term, Indonesia is trying to manage the situation through the development of infrastructure that is critical to supporting the energy transition.
Furthermore, the last commitment of the G20 members is to continue the implementation of fair international taxation for all countries.
He explained that the four G20 commitments are closely related to efforts to reduce the poverty rate because these commitments are a response to overcome the impact of the crisis which has resulted in an increase in the number of poverty.
"Now why am I explaining this? Because it's all about our people," said Suahasil.
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