10/15/2018, 00.00
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IMF Meetings, an Indonesian success

by Mathias Hariyadi

"The positive impact will result in 6.54 per cent economic growth in Bali province alone", said Minister Pandjaitan. Indonesian companies sign 19 important deals with foreign partners worth a US$ 13.1 billion. Private sector representatives held 2,000 meetings during summit.

Jakarta (AsiaNews) – The Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Indonesia have highlighted the country’s place on the international scene and given a significant boost to its economy.

Delegations from 189 countries and 36,000 participants (finance ministers, governors of central banks, lawmakers, officials and experts) attended the gatherings (8-14 October) in Nusa Dua. In all, Indonesian companies signed 19 important deals with foreign partners, worth a total US$ 13.1 billion.

For Indonesian Finance Minister Sri Mulyani Indrawati, the excellent results will raise expectations vis-à-vis Morocco, the next host, and Saudi Arabia, where the G20 will soon meet. "Both countries have come to examine our organisation," the minister said.

Coordinating Ministry for Maritime Affairs General (Ret) Luhut Binsar Pandjaitan, who organised the meetings, stresses that "the whole world recognises the success of the summit".

The former commander of Indonesia’s counter-terrorism forces noted that it "will allow the country to attract more foreign investment", which the government will have to protect. "The positive impact will result in + 6.54 per cent economic growth in Bali province alone", added Pandjaitan.

According to the minister, private sectors representatives held about 2,000 meetings. "The agreements signed during the Meetings cover various fields, including finance, infrastructure, prevention of natural disasters, e-commerce and tourism.”

“Based on the World Bank’s 'Ease of doing business’, Indonesia’s ranking went from the 102nd to the 72nd position. President Widodo has ordered us to rise above the 50th position, and we are working hard to reach that goal," Pandjaitan explained.

The September 2018 report prepared by the World Bank states that over the past year the Indonesian GDP grew by 5.3 per cent, thanks to government policies and domestic demand.

"We have to admit that the Bali event was strategic to promote our nation and its various assets", said Sri Adiningsih, a member of the Presidential Advisory Council (Wantimpres), speaking to AsiaNews.

For the expert, a professor of economics at the Gadjah Mada University in Yogyakarta, the agreements signed by national companies is very significant.

"The most important thing,” she said, “is the follow-up to the trade agreements in the near future. Today Indonesia has successfully regained international trust and is ready for new business with foreign partners."

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