Indonesia gains from hosting IMF-WB annual meeting: Sri Mulyani

Indonesia gains from hosting IMF-WB annual meeting: Sri Mulyani

Indonesian Finance Miniser Sri Mulyani. ANTARA FOTO/ICom/AM IMF-WBG/Puspa Perwitasari/aww.

Nusa Dua, Bali (ANTARA News) - Finance Minister Sri Mulyani Indrawati said Indonesia gains from hosting the annual meeting of the International Monetary Fund and the World Bank Group, now under way here.

"The gain is not only in cash , but also in image," Sri Mulyani said here on Wednesday dismissing accusations that the government has wasted large fund by hosting the week long meeting ending on Sunday .

She said the gain is both intangible such as in international reputation and tangible mainly in economic gain and investment opportunity.

At least economic gain would be recorded in Bali from the spending of 30,000 delegates and other participants during their stay in Bali, she added.

"Bappenas has estimated that Bali`s economy would grow, and the growth is estimated Rp1.1 trillion, Rp12 trillion or Rp1.5 trillion much exceeding the cost of organizing the meeting," the minister said.

The government said the cost of hosting the meeting is estimated to reach only Rp855 billion, and most of the fund was spent on provision of information technology.

Earlier, President Joko Widodo said most of the fund was used to enlarge the apron of the I Gusti Ngurah Rai international airport and the construction of underpass of the road leading to the airport.

The apron and the under pass would remain there even after the IMF-WB meeting, therefore, there was almost no fund wasted, the president said.

Government critics had accused the government of wasting fund by hosting the big meeting when the economy was in the "doldrum" and large funds are needed to cope with the devastation by the recent earthquakes and tsunami hitting Central Sulawesi and Lombok.

Sri Mulyani said various aspects of development relevant for Indonesia and other developing countries are widely discussed at the IMF-WB meeting such as natural disaster which is currently a topic in the national issues.

Discussions on natural disasters include how the government should handle a condition of emergency and recovery and process of reconstruction, she said, adding "It is a process many countries have faced."

She went on to say many big investors and business leaders are participating in the IMF-WB meeting and many of them have indicated interest in doing business in the country.

She said the government has prepared a list of projects to be offered to the investors with details about alternative financing schemes.

The Ministry of State Enterprises has also made a list of projects expected to attract investors, and the government providing facilities.

In the big event, the Ministry of State Enterprises offered investment opportunities valued up to US$42.1 billion in 78 infrastructure projects in various sectors.

Sri Mulyani said inflow of capital by the investors would strengthen the country`s economic fundamentals amid the present global uncertainties.
Reporting by Satyagraha
Editing by A Saragih