VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The annual meeting of the International Monetary Fund (IMF) and World Bank (WB) from Oct 8 to 14, 2018, in Bali will increase the circulation of money on the island to a minimum of US$100 million, or Rp1.3 trillion (exchange rate of $1US = Rp13,500) .

The Head of the 2018 IMF-World Bank Annual Meeting Task Force, Peter Jacobs, stated here on Monday ( 26/2) that the figure was based on hotel room rent, airline tickets, and transportation services to be used by 15 thousand delegates from around the world.

"That is only a minimal amount, because it has not been added with, for instance, the tour expenditures or other expenses made by the 15 thousand delegates," he noted.

The value of the circulated money has excluded the investment agreements or business agreements, which will be approved by the delegates at the meeting.

The Indonesian Government, as the organizing committee, has estimated that the annual meeting of IMF-WB 2018 will bring in 4 thousand official delegations at the levels of ministers, and the Central Bank Governor, of 189 IMF-WB member countries.

The delegation will also include 5 thousand investors, 1 thousand reviewers, 1.5 thousand IMF and WB employees, thousands of entrepreneurs, as well as 1 thousand journalists.

Jacobs added that the Government of Indonesia and Bank Indonesia, as the organizers, have prepared a number facilities and infrastructure to support the meeting, such as meeting hall, accommodation, transportation, consumption, and tour packages.

The Ministry of Tourism will prepare various tourist destinations for the delegation members other than Bali. The summit of the 2018 IMF-WB meeting will take place from Oct 12 to 14, 2018. Meanwhile, side events, such as discussions and business meetings, will also take place from Oct 8 to 14, 2018.

International Monetary Fund Managing Director Christine Lagarde has praised Indonesia`s strong economy with good prospectd in the years to come.

"Indonesia`s economy has proven to be strong and performed well with favorable prospects," she said in a statement received here on Monday.

Lagarde`s statement after she met with President Joko Widodo to discuss current economic development, Indonesia`s prospect and preparations for the annual IMF-World Bank meeting in Bali later this year.

At the meeting Lagarde praised President Joko Widodo and his cabinet for their economic management and policies.

"We have also discussed the importance of achieving high economic growth to create jobs and support working generation that keeps growing," she said.

To meet the goal revenues must be used to support development spending and continue reform of products. manpower and financial market.

Regarding the preparation for the annual IMF - World Bank meeting in October Lagarde thanked all parties for their cooperation so far in preparing the event. (antara)