VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Risks are increasingly skewed to downside amid heightening trade tension and ongoing geopolitical concerns with tighter financial conditions particularly affecting many emerging markets and developing countries. Therefore fiscal policy should rebuild buffers, where needed; be flexible and growth-friendly; avoid pro-cyclicality; and raise the quality of infrastructure and workforces skills, while ensuring that public debt is on a sustainable path. It was stated by Lestja Kganyago, Governor of the South African Reserve Bank while announcing the Communique of the 38^th Meeting of the International Monetary Fund Connect (IMFC) in Nusa Dua Bali on Saturday afternoon (13/10). He also said IMFC also recognizes the need to continue to step up dialogue and actions to mitigate risks and enhance confidence in international trade, including on ways to improve the WTO to face current and future challenges.

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The communiqué also recognizes the need to continue to step up dialogue and actions to mitigate risks and enhance confidence in international trade. To support this we will continue to work globally fair and modern international tax system, strengthen collaboration to leverage financial technology while addressing associated risks, and tackle sources and channels of money laundering and other illicit finance.

Kganyago also said the International Monetary Fund Connect (IMFC) supports efforts toward achieving the 2030 Sustainable Development Goals (SDGs). Therefore they will work together to enhance debt transparency and sustainable financing practices by debtors and creditors both public and private. Besides, IMFC will also continue to support countries’ efforts to build resilience, and deal with the macroeconomic consequences of pandemics, cyber risks, climate change, and natural disaster, energy scarcity, conflicts, migration and refugee and other humanitarian crises. (VOI/DP/AHM)