Acting head of the Finance Ministry`s Public Relations Samsuar Said in his press statement on Tuesday said that G20 considered the commodity price volatility as an important issue which could affect developing countries.
Finance ministers and central banks` governors have agreed to focus on financial policy aspect among others on fiscal instruments and financial sectors to manage risks and carry out mitigation efforts, he said.
G20 is of the view that speculations on commodity market are also one of the causes for the emergence of price uncertainties. Therefore, the G20 assigns the International Organization of Security Commissions (IOSCO) to report to G20 on its studies in September 2011, Sasuar said.
The IOSCO is studying the arrangement and supervision of markets and commodity derivatives to avoid price manipulation.
Samsuar said that Finance Minister Agus Martowardojo and Bank Indonesia Governor Darmin Nasution attended the finance ministers` and central bank governors` meeting of G20 in Washington on April 14-15, 2011.
(Uu.A014/HAJM)
Editor: Priyambodo RH
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