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Indonesia Calls World’s Leaders to Avoid Rivalry and Tension

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Indonesian President Joko Widodo calls world leaders to stop rivalry and tension in various regions so that the world recovery process is not disrupted.

During a virtual speech at the opening of the First G-20 Finance Ministers and Central Bank Governors Meeting from the Bogor Presidential Palace, West Java, Thursday (17/2), President Joko Widodo appealed to the world leaders to focus on synergizing and collaborating to save and revive the world.

He further stated that on one hand, the revival of one region will revive another. On the other hand, the collapse of one area will also collapse other areas. Thereby, he emphasized that such a situation is not the time to put forward rivalries or create new tensions that disrupt the world's recovery. Moreover, causing conflict may endanger the safety of the world, as it is happening in Ukraine nowadays.

The President also said that global uncertainty must be faced by working together to control inflation which tends to increase. In addition, synergistic cooperation is also needed to anticipate food scarcity and increase in prices, as well as to overcome the scarcity of containers and other logistics chains.

According to an energy analyst for the Netherlands-based financial services provider, Rabobank, there are several economic impacts that the world might face if the conflict in Ukraine does not end peacefully, or Russia receives economic sanctions. The Ukraine conflict is said to be able to push up oil prices which have already reached the level of US$ 90 per barrel to US$ 125 per barrel. Meanwhile, the price of gas and major metals will also increase. Other major commodities that will also be affected are wheat, barley, corn, and sunflowers because Russia and Ukraine are the main producers of these agricultural products. In addition, a prolonged conflict will also push the inflation rate in a higher direction.

Hopefully, President Joko Widodo's call to stop rivalry and tension in various regions, so that the world recovery process is not disrupted, will receive a positive response from world leaders. Many parties are optimistic that the meeting of Ministers of Finance and Central Bank Governors of the G-20 countries can formulate fiscal and monetary policy measures that are in synergy between countries. So, efforts to solve world problems can become a reality. It is fitting that the 'devastation' caused by the Covid-19 pandemic is repaired together, in accordance with the theme of the Indonesian G-20 Presidency, namely, Recover Together, Recover Stronger.

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