G20 expected to push for global recovery: Minister

G20 expected to push for global recovery: Minister

President Joko Widodo receiving the right of G20 presidency from Italian Prime Minister Mario Draghi (right) in Rome, Italy, Sunday, October 31, 2021. (ANTARA FOTO/Biro Pers Media Kepresidenan/Laily Rachev/Handout/aww)

Jakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia's G20 Presidency,next year, crystallizes the global community's expectation  of an equitable recovery from the impact of the COVID-19 pandemic.

“Indonesia's G20 presidency is not only a great challenge but also a hope. By bringing up the theme Recover Together, Recover Stronger, Indonesia encourages joint efforts for the recovery of the world economy," he said here on Sunday.

According to data from the United Nations, about 48 countries are facing a high or very high risk of lost generation due to reduced educational opportunities, job losses, and constrained health care systems.

Thus, a global-scale cooperation is necessary to prevent prolonged crisis, particularly to help the poorest and most vulnerable countries.

Global cooperation, one of which is through the G20 Indonesia Presidency, will also seek global partnerships in the form of funding support, suspension of debt payments, and access to technology.

Related news: Indonesia G20 to contribute to equitable global prosperity: Jokowi

The pandemic has facilitated an opportunity to reset and reshape the world in accordance  with  Sustainable Development Goals (SDGs).

Countries all over the world have committed to achieving these goals by 2030, thus innovative financing mechanisms are needed to close the gap in the funding of the SDGs.

One of these innovative financing is in the form of blended finance and sustainable private investment which is meant to revive the economy and create jobs.

President Joko Widodo has emphasized that the main principles that must be followed are  inclusivity, community-focused, environmentally friendly, and sustainable growth.

This principles go hand in hand with increasing productivity and resilience, as well as ensuring economic and financial stability all around the world.

"Indonesia will try its best so that the G20 can benefit all countries. Inclusivity is a top priority for Indonesia's leadership, with a commitment to ensure no one is left behind," The minister concluded.
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