Friday, 27 March 2020 11:33

Jokowi Tells G20: Strengthen Cooperation, Check Economic Slowdown

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President Joko Widodo joined the G20 Extraordinary Sherpa Meeting virtually from Bogor Palace, West Java on Thursday evening (March 26, 2020). President Joko Widodo joined the G20 Extraordinary Sherpa Meeting virtually from Bogor Palace, West Java on Thursday evening (March 26, 2020). ANTARA

President Joko Widodo (Jokowi) on Thursday urged G20 leaders to fight the novel coronavirus, or COVID-19, outbreak and check the global economic slowdown triggered by the pandemic.

"First, we must strengthen cooperation against COVID-19," President Jokowi said while participating in the G20 Extraordinary Sherpa Meeting from the Bogor Palace, West Java via video conference on Thursday evening.

According to Jokowi, the world's 20 major economies must encourage global solidarity in handling COVID-19. He said G20 leaders need to initiate efforts so that the pandemic does not interfere with partnerships and cooperation between countries that have been built over years.

"For this reason, the G20 must actively lead efforts to find the anti-virus and medication for COVID-19, of course, hand in hand with the WHO," he said.

Jokowi also encouraged G20 countries to work together and synergize economic policies and instruments to fight the slowdown in the world economy due to the COVID-19 outbreak.

"We must prevent a global economic recession through coordinated fiscal and monetary policies, and expand and strengthen social safety nets, especially for MSMEs," Jokowi said.

The President also encouraged the G20 to maintain financial sector stability, including maintaining liquidity and providing relief to the business community, which has been hit by the COVID-19 pandemic.

"With the high global financial turmoil, foreign exchange support is very important. I also support widening of the global and regional financial safety net, including through (mechanisms such as) the SDR swap line and currency swap facility, such as the Chiang Mai Initiative," the President stated.

He also asserted the importance of G20 member countries preventing production disruption, and maintaining smooth distribution of goods, “mainly staple food and health goods”.

Jokowi ended his statement by emphasizing the need for G20 countries to build global confidence that the world would win the war against COVID-19 and overcome the crisis caused by the pandemic. (ANTARA)

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