VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The global expansion remains strong. Growth is projected to be steady in the near term and to be moderate thereafter. However, the recovery is increasingly uneven, and some of the previously identified risks have partially materialized. It was stated by Governor of the South African Reserve Bank Lesetje Kganyago in a press conference after the International Monetary Fund Connect plenary session in Nusa Dua Bali on Saturday (13/10).  He said risks are increasingly skewed to the downside amid heightening trade tension and ongoing geopolitical concerns, with tighter financial condition particularly affecting many emerging markets and developing countries. While Indonesian President Joko Widodo in his speech at the annual meeting of IMF-World Bank Group on Friday (12/10) illustrated this condition as a Game of Thrones which got a big applause from the audience. The president said that victory or defeat in a war always brought about the same result. Commenting on the presidential statement, Kganyago said the president presentation has communicated complex issues in a very simple way.

“I think the presentation of the president was not just particular, it communicates very complex issues in a very simple manner using stories that people are familiar with, when we are talking about trade tension or global cooperation and the president communicate it such is a very simple way that I think you have to be proud to be led by a man like him," said Kganyago.

Kganyago also said to address the issues there is a need to step up dialog and to enhance confidence in international trade including on ways to improve the WTO to face current and Future Challenges. International Monetary Fund Connect (IMFC) will continue to work for a globally fair and modern international tax system, and where appropriate, address competition and tax challenges including from digitalization. (VOI/DP/AHM)