Coordinating Maritime Affairs Minister Luhut Binsar Panjaitan (center), accompanied by Finance Minister Sri Mulyani (left) and Bank Indonesia governor Agus Martowardojo prepare to address reporters after a coordination meeting for the IMF-World Bank Annual Meetings 2018 at the Finance Ministry Building, Jakarta, Tuesday (13/6). The IMF-WB Annual Meetings will be held from October 12-14, 2018, in Nusa Dua, Bali.
JAKARTA, KOMPAS – Indonesia is to host the International Monetary Fund-World Bank Annual Meetings (IMF-WB AM) in Nusa Dua on the resort island of Bali from October 8-14 next year. During the meeting, Indonesia will hold a series of events titled “Voyage to Indonesia” (VTI) to promote the image of the country.
The program, which has been held since 2016, is arranged to promote the image of Indonesia in the world. The IMF-WB AM 2018 takes on the theme of Indonesia as a reforming, progressive, sustainable economic power that supports the achievement of sustainable equity.
Plans for the IMF-WB AM were unveiled during a press conference in Jakarta on Tuesday. Attending the press conference were Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan, Finance Minister Sri Mulyani Indrawati, and Bank Indonesia Governor Agus DW Martowardojo.
Agus said four important pillars of the Indonesian economy would be promoted in the Voyage to Indonesia. These four pillars are Indonesia’s economic and financial development, diversity, and potential. "The four pillars represent Indonesia as growing, reforming country which has resilience in facing the global economic downturn," he said.
Luhut, who is also Chairman of the National Committee of the IMF-WB AM 2018, said the meetings would discuss global economic and financial developments. Recommendations from these discussions will be submitted to the countries participating in the IMF-WB AM.
The annual meetings will be attended by central bankers and finance ministers from 189 IMF-WB member countries, IMF leaders and World Bank staff, as well as representatives from the financial sector, academia and non-governmental organizations. The number of participants is estimated to reach about 15,000 people.
"There are three main activities at the meetings: the IMF-WB plenary session, the International Monetary and Financial Committee, and the World Bank Development Committee. In addition, there will be approximately 3,000 other meetings discussing the economy and finance," Luhut added.
Attracting investors
Luhut said that Indonesia would try to attract foreign investors during the annual meetings, as well as to promote tourism in Bali and its surrounding areas. To that end, the government is committed to accelerating the development of infrastructure facilities to support tourism in the region.
Meanwhile, Sri Mulyani said the meetings, which would also be attended by economic and financial decision-makers and funders of international financial institutions, would be very important for Indonesia. The IMF-WB AM could be an opportunity for Indonesia to introduce its potential. Indonesia is now well advanced in development and has received an investment grade rating from three international rating agencies.
"The investment grade rating is also expected to attract investors, as Indonesia\'s development will not succeed by only relying on the state budget," she said.
