An accurate exit strategy and efforts to handle the scarring effect are a prerequisite to sustainable recoveryNusa Dua, Bali (ANTARA) - An accurate exit strategy can help address the scarring effect of the COVID-19 pandemic, Finance Minister Sri Mulyani Indrawati has observed.
"An accurate exit strategy and efforts to handle the scarring effect are a prerequisite to sustainable recovery,” she said at a press conference held on the sidelines of the Finance and Central Bank Deputies (FCBD) Meeting in Nusa Dua, Bali, on Thursday.
An accurate exit strategy must be created as the high level of uncertainty caused by the COVID-19 pandemic and uneven recovery between developed countries and developing nations has cast a shadow over the world, she elaborated.
In addition, strong global economic performance, particularly in developed countries, coupled with high inflationary pressure has also pushed for a change in tighter policies or tapering, she said.
Hence, the exit strategy will be discussed at a meeting during Indonesia’s G20 Presidency next year. The meeting will focus on three issues—inclusive health, digital transformation, and energy transition, she said.
During its G20 Presidency, Indonesia will strive to create equitable vaccination access, accelerate digitalization, and direct the coordination of global policies related to climate change financing, she said.
Indonesia’s G20 Presidency will offer a chance to the country to showcase its role in leading a global forum to address global challenges.
Indonesia is determined to address the global challenge by looking for the best solution, ensuring that all countries recover together, and pushing for policy reforms in favor of stronger, sustainable, balanced, and inclusive economic growth, the minister said.
This aligns with the theme of Indonesia’s G20 Presidency of 'Recover Together, Recover Stronger' by focusing on six priority agendas, which are on the finance track, including coordinating an exit strategy for supporting global recovery.
Next, is the effort to handle the scarring effects on the economy to support stronger growth in the future and strengthen the financing system in the digital era, she said.
The last is to develop sustainable finance, increase inclusive financial system, and conceive an international taxation agenda, she added.
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Translator: Astrid Faidlatul H, Suharto
Editor: Sri Haryati
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