I think the six agendas are still relevant to the current conditions and also in the future. Although the formulation may be different, the core of the problem will be more or less the sameJakarta (ANTARA) - Indonesia's Presidency in the G20 is aimed at maintaining global development goals to encourage stronger, more sustainable, balanced, and inclusive global economic growth, Senior Deputy Governor of Bank Indonesia (BI) Destry Damayanti stated.
The G20 is a multilateral cooperation forum comprising 19 major countries and the European Union (EU). The forum represents over 60 percent of the world's population, 75 percent of global trade, and 80 percent of the world's gross domestic product (GDP).
The G20 members comprise South Africa, the United States, Saudi Arabia, Argentina, Australia, Brazil, India, Indonesia, the United Kingdom, Italy, Japan, Germany, Canada, Mexico, South Korea, Russia, France, China, Turkey, and the European Union, while Indonesia is holding the presidency this year.
During a seminar and book launch titled "Indonesia's Strategic Role In The G20: Expert Perspectives" in Jakarta, Thursday, she noted that in the finance track, Indonesia's Presidency had formulated six priority agendas that included exit strategies to support recovery and handle the impacts of the pandemic to secure future growth and payment systems in the digital age.
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In addition, there is sustainability finance, financial inclusion through digital financial inclusion and micro, small, and medium enterprises (MSMEs) development, and international taxation.
"I think the six agendas are still relevant to the current conditions and also in the future. Although the formulation may be different, the core of the problem will be more or less the same," Damayanti remarked.
Indonesia's G20 presidency will continue to maintain its commitment to create policies that are well-calibrated, well-planned, and well-communicated to support a sustainable, balanced, and inclusive recovery in order to support the global economy, she affirmed.
According to Damayanti, currently, the world's economic conditions are still overshadowed by uncertainty, with phenomena, such as Volatility, Uncertainty, Complexity, and Ambiguity or commonly abbreviated as VUCA.
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On the other hand, each country has different characteristics to maintain the recovery momentum while maintaining economic stability, she stated.
The policy reaction by a country will indubitably affect the economic conditions of other countries, so a wrong policy step can lead to a circle crisis that has no end, she stated.
"For the solution formulation, Indonesia prioritizes that each member of G20 can voice its views, so that the theme of 'Recover Together, Recover Stronger' will become more relevant," Damayanti remarked.
Indonesia's Presidency in the G20 would also ensure that sustainable and balanced global economic growth could continue in the G20 Presidency in India in 2023, she stated.
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Translator: Muhammad Heriyanto, Resinta S
Editor: Fardah Assegaf
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