Press Release No. 15/397

Press Release: IMF Managing Director Concludes Visit and Thanks Indonesia for Hosting 2018 IMF-World Bank Annual Meetings

September 2, 2015

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF) today concluded a two-day visit to Indonesia and issued the following statement:

“I am delighted to have returned to Indonesia at the invitation of the central bank, to participate in the joint Bank Indonesia-IMF Future of Asia’s Finance Conference. Discussions focused on key developments and challenges in the region’s financial sector and how it can be further strengthened and harnessed to support Asia’s sustained growth and development in the decades to come. Financial market deepening and integration help bolster financial stability, while new infrastructure financing modalities are key to raising growth potential, including by crowding-in private investment. Financial inclusion is also crucial in mobilizing savings and making growth more inclusive.

“On the occasion of my visit, I also had fruitful discussions with President Joko Widodo, Vice President Jusuf Kalla, and senior officials, including Bank Indonesia Governor Agus Martowardojo, Coordinating Minister of Economic Affairs Darmin Nasution, and Minister of Finance Bambang Brodjonegoro. In addition, I had a good exchange with Deputy Speaker of the House of Representatives Taufik Kurniawan and his fellow parliamentarians.

“During these meetings, I strongly supported the authorities’ resolve to maintain strong monetary and fiscal policy anchors and move forward on a new growth strategy focused on infrastructure, as well as their emphasis on reducing the cost of doing business and promoting greater human capital development.

“The current environment is challenging for emerging market economies, but I noted that Indonesia was better able now to deal with financial volatility, owing to steps taken in the past few years to build policy buffers aimed at strengthening its external resiliency and containing vulnerabilities.

“In addition, I enjoyed an engaging discussion with students at Universitas Indonesia that highlighted the vital importance of job creation, skills upgrading, youth empowerment and entrepreneurship to help Indonesia reap the full benefits of its demographic dividend. I also had an inspiring exchange of perspectives with women leaders. As in many other parts of the world, raising growth in Indonesia will depend on allowing women to have a broader role in the economy, with more progress needed on educational opportunities, legal protections, and attitude shifts.

“Lastly, let me congratulate and thank the government and the people of Indonesia for hosting the 2018 Annual Meetings of the IMF and World Bank. This is a significant milestone in our partnership and a recognition of the impressive economic and social developments of Indonesia. It will be a great opportunity for Indonesia to demonstrate its expanding role on the global stage and showcase the culture, people, beauty, and vitality of this dynamic country.”