Sri Mulyani Reminds Millennials To Understand The Financial Crisis

Minister of Finance, Sri Mulyani Indrawati. (Photo: Instagram @smindrawati)

JAKARTA - Finance Minister Sri Mulyani reminded the millennial generation to understand the financial crisis, especially for those who want to take the path of their financial profession in the future.

Financial professions have an important role and are synonymous with the economic progress of a nation. Therefore, it is necessary for professionals in the financial field to learn to understand the financial crisis that has been faced as a provision in the future.

"Many millennial youth may not, or less familiar with what financial crisis is, both in Indonesia and in the world. Even though the names are two words, the financial crisis means that there is something wrong with finances that causes a crisis," Sri Mulyani said at the Opening Ceremony and Discussion of the Panel Chairperson of the Expo Financial Professional Association 2023 in Jakarta, quoted from Antara, Wednesday, July 26.

The Minister of Finance said that there were three financial crises that Indonesia had experienced. First, the 1997-1998 financial crisis became a milestone in economic history.

Second, the world financial crisis in 2008-2009 which formed many regulations and practices in the field of the financial profession. Finally, the pandemic crisis that took place from 2020-2022.

The first crisis is related to the financial banking crisis in Indonesia and Southeast Asia. While the second crisis is related to the global financial crisis.

The last crisis is a health crisis, but the dimension is a financial crisis.

Regarding the pandemic crisis, continued the Minister of Finance, professionals and the younger generation in the financial sector need to understand and learn the logical consequences of a health crisis becoming a financial crisis.

He said there is still a possibility of a future pandemic crisis that needs to be anticipated in order to determine steps from the financial sector that must be taken.

"In the future, if we face them, there is no need to start from scratch again. There has been any happening and we can already convey it," said the Minister of Finance.

The Minister of Finance also conveyed that there were other issues in the financial sector, namely the possibility of shock stemming from the issue of climate change.

The financial sector will be an important part. So, understand the risks of climate change. The impact is very large. Value assets can drop, value assets can rise, because of climate change. Risks can be 0 and 1,' said the Minister of Finance.