Sri Mulyani Invites World Leaders To Overcome Global Challenges At IMF-WB 2023

Minister of Finance Sri Mulyani (Photo; Doc. Antara)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani Indrawati invites world leaders to overcome global challenges.

He said this while attending a series of annual meetings of the Governors of the International Monetary Fund (IMF) and the World Bank held in Marrakesh, Morocco. The meeting was attended by 190 member states held on October 9-15, 2023.

In the ASEAN-IMF Roundtable Discussion, Sri Mulyani conveyed the achievements that Indonesia has made in the strength of ASEAN 2023, such as in the fields of digital technology, food security, health architecture, sustainable development, including the launch of the ASEAN Taxonomy version 2 in order to support green financing and accelerate energy transition.

In addition, Sri Mulyani hopes that the IMF's activities can provide the best support for its members, including for the ASEAN region, in dealing with increasingly complex global financial situations.

"As well as World Bank's efforts to meet increased climate change funding, food insecurity, and overcome extreme poverty amid pressure on debt and limited fiscal capacity," he explained in his official statement Monday, October 16.

Meanwhile, with the new vision and mission from the World Bank, namely to create a world free of property on a guilty planet', as well as a new model of financing, Sri Mulyani hopes that the World Bank can overcome financial problems in the world.

"The World Bank is expected to have a real positive impact from its evolutionary results to realize its vision of creating a poverty-free world," he explained.

In addition, the agenda also highlights the world economy overshadowed by high interest rates that last for a long time (higher-for-longer), and the decline in real estate prices in several jurisdiksi.

Sri Mulyani said that Indonesia was able to prove financial resilience during the pandemic, controlled inflation, stable interest rates, and economic growth reached 5% in the last 7 quarters.

On the other hand, Sri Mulyani said the Indonesian government is committed in the long term to continue to carry out structural reforms, focusing on maintaining a healthy state budget, encouraging economic transformation and fiscal sustainability which is very important for credibility, stability, and long-term economic growth.

In the IMF Committee Breakfast session, the Minister of Finance also said that the global situation is getting more complicated with the bad effects of increasing geopolitical fragmentation, and the situation that is happening in the Middle East so that it has the potential to burden Indonesia's and global economic prospects.

Sri Mulyani also emphasized 4 priorities that currently have to be carried out in the IMF Committee Breakfast session, namely resolving conflicts peacefully, multilateralism and collaboration, providing targeted fiscal support, maintaining macroeconomic stability by carefully designing policy responses.

"As well as building stronger long-term growth sustainability through comprehensive structural reforms," he said.