Sri Mulyani At The World Bank Forum: Strengthening Cooperation Is Important To Face Global Challenges

Photo: Doc. Ministry of Finance

JAKARTA Minister of Finance (Menkeu) Sri Mulyani said that the world is facing a development crisis. According to her, efforts towards mutual prosperity for low- and middle-income countries have become more challenging as a result of the pandemic, geopolitical conflicts, and climate change.

This causes increased debt burdens, inflation, financial costs, and other macroeconomic imbalances.

The Minister of Finance explained that urgent action is needed to overcome the increasing poverty crisis and economic pressure, as well as global challenges.

"With all these challenges still ahead of us, I believe it is important to rejuvenate and strengthen multilateral cooperation to address global problems in today's geoeconomic and geo-political fragmentation trends," he said in a press release today, Thursday, June 22.

The Minister of Finance invited the global community to act and work together to increase global economic prospects and bring people into better conditions after the pandemic.

Global community needs to unite to increase financing and the impact of development. Efforts and financing need to be increased from all sources, both domestic, international, public and private sectors," he said.

The state treasurer added that as a leading financial institution and development knowledge, the World Bank Group (WBG) needs to increase efforts to reach the poor and vulnerable, increase the impact of development, and tackle global actions.

He said, the World Bank is seeking reform through the World Bank Evolution Roadmap which will update its mission, operational model, and WBG financial capacity, in line with recommendations in a review of the Capital Adequacy Framework launched in 2022 under the G20 Presidency of Indonesia.

"To get quality human resources, I know very well that the World Bank opens the door as wide as possible for potential and leading individuals to work in the World Bank," he added.

The Minister of Finance also said that careers at the World Bank are wide open for those who like challenges and are excited to become agents of change.

I encourage many young people to have careers at the World Bank. For government and private employees, I also encourage them to do secondments or internships at the World Bank," he said.

"Having a working experience with international organizations that have diverse and high-quality people will give you wider insight and invaluable experience, and in the end, I hope you can contribute more to Indonesia," concluded Minister of Finance Sri Mulyani, who also served as Managing Director of the World Bank.