Finance Minister Sri Mulyani Indrawati attends the opening of the 1st Finance Minister and Central Bank Governor Meeting in Jakarta, Thursday (February 17, 2022). (ANTARA/HO-Indonesia’s 2022 G20 Presidency Executive Committee/uyu)
We certainly differ in position, benefit, and experience in various ways. However, these differences can allow (us) to find the best inclusive solutions for the world (issues).Indonesian Finance Minister Sri Mulyani Indrawati stated that the G20 forum offers hope and serves as a navigation amid the crisis, such as the current uncertain global situation.
"We believe that the G20 can become a sign of hope that can (help the international community to) navigate when a crisis occurs. The confidence is based on historical facts when the G20 was able to overcome the global financial crisis (in 2008)," the minister remarked at the opening of the 4th Meeting of G20 Finance Ministers and Central Bank Governors (FMCBG) here on Wednesday evening local time.
The FMCBG is organized by Indonesia’s 2022 G20 Presidency under the Finance Track to discuss various global economic finance issues.
The minister noted that the world is currently in a state of recession due to various global challenges that may potentially weaken the world’s economic growth, such as geopolitical conflicts, rising energy and food prices, as well as high domestic inflation in several countries.
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Hence, these challenges cannot be faced by each country alone since the handling of the turmoil necessitates multilateral cooperation, especially from the G20 group that accounts for 85 percent of the world GDP.
Indrawati stated that the diversity and dynamics of the G20 members can become a joint strength in responding to global issues, but it could also hinder mutual understanding regarding the matters.
"We certainly differ in position, benefit, and experience in various ways. However, these differences can allow (us) to find the best inclusive solutions for the world (issues)," she stated.
As the chair of the 2022 G20 Presidency, Indonesia always seeks to encourage the spirit of cooperation, collaboration, and mutual agreement in discussing solutions to overcome global issues through multilateralism, the minister stated.
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"Indonesia also lauds the (G20) members, who have supported the (2022) G20 Presidency from the beginning until now," she remarked.
Several finance ministers and G20 central bank governors attended the 4th FMCBG in person to discuss views on several global issues.
The issues comprise the global economy and its risks, global health, international financial architecture, financial sector issues, sustainable finance, and international taxation.
Earlier, the first 2022 G20 FMCBG took place in February 2022 in Jakarta; the second meeting was held in April 2022 in Washington D.C., the U.S.; while the third one was organized in July 2022 in Nusa Dua, Bali Province.
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