Remarks of President of the Republic of Indonesia at the Opening of the 1st G20 Finance Ministers and Central Bank Governors Meeting, February 17, 2022

Assalamu’alaikum warahmatullahi wabarakatuh,

Distinguished Finance Minister of the Republic of Indonesia,
Distinguished Governor of Bank Indonesia,
Distinguished G20 Finance Ministers and Central Bank Governors,
Heads of International Financial Agencies and International Organizations,
Distinguished Ladies and Gentlemen;

During the 2018 IMF–World Bank Annual Meeting, I said that the winter is coming. The winter is really coming right now. The pandemic is not over yet and we have to face economic shock. During the situation, no country can recover alone. All countries are connected, no country is isolated.

Advancement of one region will influence the advancement of another region. Likewise, the fall of one region will lead to a fall of another region. In this condition, it is not the time for rivalry. It is not the time to create new tension which disrupt global recovery and endanger people’s safety, for instance the situation in Ukraine right now. Currently, all parties must stop rivalry and defuse tension. We must focus on creating synergy and collaboration to safe and recover the world we live in, immediately.

Ladies and Gentlemen,

We must address global uncertainty with synergy and collaboration. We must work together to keep inflation, that continues to surge, under control. We must anticipate food scarcity and increase in food price. We must resolve the problem of shortage of shipping containers and logistics chain. We must prevent world hunger. We also have the task of carrying out transformation. We must speed up transition toward the new economy. We must speed up equitable digital transformation that can be accessed by all. And, we also must support the recovery of MSMEs (Micro, Small, and Medium-sized Enterprises).

The Meeting among Finance Ministers and Central Bank Governors of G20 member countries will surely generate measures to formulate fiscal and monetary policies that synergize among countries in order to resolve our common and global issues. We must work in collaboration to face global strategic issues through concrete and calculated measures that can resolve the issues and prevent the reoccurrence in order to achieve a more inclusive and sustainable economic growth.

Distinguished Guests,

By upholding the spirit of recover together, recover stronger, Indonesia promotes discussion on global agenda. We must strengthen healthcare architecture, globally. We also need to facilitate and give financial support to speed up transition toward green economy and digital economic transformation.

Indonesia is eager to assume its G20 presidency’s role and contribute globally. Indonesia will encourage synergy and collaboration among finance ministers and the G20 central bank governors in formulating fiscal and monetary policies to address global issues.

I have high expectations of the G20 Finance Minister and Central Bank Governors. I hope this meeting will generate strategic, collaborative, and concrete measures than can be adopted immediately and bring concrete results immediately.

Recover together, recover stronger.

I thank you.
Wassalamu’alaikum warahmatullahi wabarakatuh.

(RAS/MMB)