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View all search resultsJakarta calls on countries to align economic policies
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Finance Minister Sri Mulyani Indrawati speaks to the media after her inauguration ceremony at the State Palace in Jakarta on July 27. (AP Photo/Tatan Syuflana)
T
here is an urgent need for synergy among countries in monetary, fiscal and structural reform policies to stimulate growth and create jobs, Finance Minister Sri Mulyani Indrawati has said.
Sri Mulyani, the first female chair of the joint World Bank/International Monetary Fund (IMF) Development Committee (DC), said global economic growth remained sluggish in 2016, with only a modest pick-up expected in 2017.
During the World Bank – IMF Annual Meeting in Washington DC, the DC focused on aligning economic policies in the 189 IMF member countries, both monetary and fiscal policies as well as structural reforms, in a bid to push global economic growth and job creation.
"The latest assessment or analysis of global economic conditions shows that we will face an economic slowdown, and the committee saw that countries have already maximized their monetary policies. However, it needs structural and fiscal policies to stimulate the demand side and job creation," Sri Mulyani said during a press conference at the Finance Ministry in Jakarta on Wednesday.
The committee also called on the World Bank and the IMF to work with countries to enhance synergy among monetary, fiscal and structural reform policies, stimulate growth, create jobs and strengthen the gains from multilateralism for all.
The minister demanded a focus on "sustainable economic growth in line with the sustainable development goals (SDGs) agenda in order to reduce poverty, increase productivity and diversification and improve human capital." (bbn)
