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)

President Joko Widodo officially opened the 2018 Presidential Cup Sholawat Nusantara Festival on Saturday at Sentul International Convention Center, Bogor, West Java. In his remarks, the President welcomed the Festival as a starting point for Muslim community for conducting positive acts both in for the nation and State. The President further hoped that the Festival will play its role to maintain nation’s unity, not only among Muslims, but also in maintaining inter-religious harmony within the country.

 “By saying Bismillah, let us start things positively. With Sholawat, let us bring together brotherhood, unity, and harmony between us. Let's start with the good things. With God's permission, let us do the good things. Positive thinking, mutual respect, and continue to always uphold the values ​​of religion, upholding the values ​​of ethics, values ​​of character,” the President said in his remarks.

Sholawat Nusantara Festival is held with the theme of Love the Prophet. The initiator of the festival, Nusron Wahid said that this festival is intended to take care of tradition and local wisdom, as well as to revive the wealth of the Archipelagic Islam.

Meanwhile, Chairman of the Committee, Abdul Gofar Rozin Sahal, said in festival is held throughout the archipelago from village to urban areas. He mentioned that the participants are not required present sholawat in Arabic language as they are able to present it in Indonesian and local languages. Sholawat Nusantara Festival is participated in by various study groups, Islamic Boarding Schools, and students, even study groups in offices, State-Owned Enterprises, and various religious organizations in the community. The peak of the celebration is scheduled to be held at the same time with National Islamic Students day celebration on October 22nd. (VOI/Ndy/ahm)