Nusa Dua, Bali (ANTARA News) - Bank Indonesia (BI) has estimated that around 3.5 thousand to 5 thousand foreign investors will attend the annual meeting of the International Monetary Fund (IMF) and the World Bank (WB) Group in Bali, from Oct 8 to 14, 2018.

Head of Special Unit at BI for the IMF-WB Annual Meeting, Peter Jacobs, said this at the meetings on incentives, conventions, and exhibitions (MICE) tourism development acceleration workshop in Nusa Dua, Bali, on Wednesday.

"What we need to pay attention to is the presence of investors, as they are the company officials with a trillion-dollar portfolio," he remarked.

Hence, he noted that the largest financial meeting was expected to serve as a momentum in introducing the (economic) potentials of Indonesia to the investors from around the world.

In addition to thousands of entrepreneurs or investors, the IMF-WB meetings in Bali will be attended by around 3 thousand to 4 thousand official delegates, 1 thousand observers, 1 thousand journalists, 1.5 thousand IMF and WB staff, 1 thousand investors from other institutions, and 1.5 thousand participants from related parties.

He further remarked that in addition to the short-term benefits, the meeting, scheduled to be attended by around 15 thousand participants from 189 countries, would also provide long-term benefits not only for Bali but also for Indonesia as a whole.

Peter also noted that it is a momentum for the trade and investment sector to introduce Indonesia`s superior products to the world and introduce more about investment and business opportunities in the country.

The long-term benefits promote the potential of tourism and business meetings, incentives, conventions and exhibitions or MICE, and the momentum for improving tourism infrastructure.

The transfer of knowledge and enriching international networks are also long-term benefits of the grand meeting.

The meeting, which will discuss global economic and financial developments and other current issues, will be divided into three main sessions of the IMF and World Bank.

He also revealed that the first meeting will be a general session, followed by the IMFC, which will be attended by all the central bank governors and the "Development Committee" (DC), and the meeting of finance ministers.

Other supporting sessions at the meeting will include the meeting of 20 countries of the world economy, or the G-20; the meeting of developing countries, or G-24; the meeting of the countries of Brazil, Russia, India, China, and South Africa, or BRICS; and other regional meetings.

Other activities that will be highlighted during the meeting held in Nusa Dua are seminars, discussions, and media meetings.

In addition, there would be 2 thousand other parallel activities carried out by the government and the private sector, including academics and other related parties.

"The parallel activities will not only be held in Nusa Dua but also in Kuta, Seminyak, and the nearest places in Nusa Dua," Peter stated.

Previously, WB President Jim Yong Kim expressed optimism that the annual meeting would run smoothly.

Reporting by Dewa Wiguna
Editing by Bustanuddin

Reporter: IMF
Editor: Eliswan Azly
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