JAKARTA - Bank Indonesia Governor Perry Warjiyo said the synergy of G20 member countries in making policies has played a role in global economic recovery amid various challenges such as pandemics, geopolitical conflicts, inflation, and climate change.
"Since the beginning of the presidency, the G20 has been working together to advance critical global issues and is able to provide concrete and collective solutions to encourage recovery," he said as quoted by Antara, Monday, November 7.
As for the G20 Indonesia Presidency, the floating payment system is also an important discussion so that the G20 Roadmap on Cross-Border Payments (CBP) is also implemented to achieve faster, cheaper, transparent, and inclusive cross-border payments.
Perry added that the exploration of the Central Bank Digital Currency (CBDC) is expected to facilitate the implementation of a roadmap which is believed to provide broad benefits to the world's economy.
Bank Indonesia melihat, pertemuan pimpinan negara G20, akan memberikan arah, panduan serta kepercayaan pasar bagi prospek perekonomian serta stabilitas sistem ke depan.
This is in line with the affirmation of the commitment of G20 members to policies that are calibrated, planned, and communicated properly to reduce the impact of the pandemic and support a sustainable, strong, balanced, and inclusive economic recovery.
This optimism is in line with the maintained performance of the domestic economy so that economic growth in 2022 is projected to be in the range of 4.5 to 5.3 percent, supported by increased private consumption, investment, and exports and maintained people's purchasing power in the midst of inflation.
Inflation in October 2022 itself was recorded at 5.17 percent (yoy), lower than the initial forecast and IHK inflation last month which was 5.95 percent.
Meanwhile, the stability of the rupiah exchange rate is maintained amid the strengthening of the US dollar, with a relatively better depreciation than the depreciation of a number of other developing countries such as India, Malaysia, and Thailand.
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