Indonesia Calls for Macroeconomic Policy Synergy at G20 FWG Meeting

JAKARTA, January 16, 2022 – G20 Indonesia represented by Bank Indonesia and the Finance Ministry held G20 Framework Working Group (FWG) virtual meeting on January, 13—14. FWG is a G20 working team which is focused to discuss efforts to encourage a strong, sustainable, balanced, and inclusive global growth.

On the first day, Indonesia led the meeting which discussed global economy development, FWG work plan, and major risks faced by the world. The increase in the COVID-19 cases originated from the Omicron variant dominated the discussions as it gives an impact on the various economic recovery among countries. Therefore, G20 countries encouraged the acceleration of vaccine distribution and vaccination programs in all countries, particularly in developing and least developed countries that have limited access to vaccines.

Communications and Informatics Ministry’s public information and communications director-general Usman Kansong as the chairman of media and communications executive team of the G20 Presidency National Committee said, “FWG G20 meeting is an important event where world’s leaders sit together to discuss the global economic recovery affected by the pandemic. We hope this meeting can produce a collective solution and a policy synergy in the economic sector in responding to various future socio-economic challenges. Under the spirit of inclusive collaboration, we are optimistic that this forum can realize the global economic recovery.”

The FWG members also underlined the importance of targeted economic policies implementation to increase productivity and to drive growth in the long term, particularly in the areas of education and workforce. On the issue of major risks faced by the world today, FWG highlighted that the recalibrated macroeconomic policies to encourage economic recovery, inflation, and disruption in the supply chain needed to be the world’s attention. The meeting participants also supported the work program prepared by Indonesia and the FWG Leadership and supporting policies that have communications and planning related to exit strategies and scarring effects.

The United Kingdom led the session on the second day which discussed the implications of inflation on macroeconomic policy. FWG saw that the COVID-19 pandemic crisis is different than previous crises in which the macroeconomic policy support has been coordinated better, so it can accelerate the recovery. Meanwhile, the inflations in a number of countries require macroeconomic policy calibration in the area of fiscal, monetary, and financial systems to ensure economic recovery stability. G20 countries also underlined the importance of knowledge and views sharing in formulating macroeconomic policies to support the economic recovery and better as well as strong economic growth in the long term.

The results of FWG’s two-day meeting have provided direction on its 2022 agenda and become part of the topics that will be reported in the ministerial-level meeting of G20 Ministers and Central Bank Governors in February 2022.


Jakarta, January 10, 2022 – Indonesia’s G20 presidency will reaffirm Indonesia’s leadership in the world’s eyes. Actualizing this, Indonesia endeavors to fight for the interests of developing countries for them to achieve positive impact from the meetings to be held this year. Considering this association of influential countries has a significant impact on the global economy and other sectors.

This endeavor has crucial meaning considering that Indonesia is currently a developing country that requires a set of policies which make positive impact on people’s lives in various sectors. Therefore, it is expected that the agreement achieved through the G20 meetings will create great opportunities for this nation’s sectors to develop. “We will use this to fight for the interests of Indonesia as well as the interests of developing countries,” said President Joko “Jokowi” Widodo virtually on the Presidential Secretariat’s Youtube channel today (Jan 10).

This endeavor, President Jokowi continued, must be echoed in the annual international event. The reason is because cooperation between countries is required in facing various challenges that arise over time. This will help us solve every challenge arises in a relatively shorter time.

In the future, there are challenges to be effectively tackled together, including building global health governance and a more just world economic governance. Such cooperation will strengthen all countries in facing various challenges that arise along with the development of the era.

“Indonesia will continue to strive to build health governance and world economic governance, which is more just, more robust in the face of the increasing uncertainty and complexity of global problems,” he said.

As we all know, the members of the G20 consist of South Africa, the United States, Saudi Arabia, Argentina, Australia, Brazil, India, Indonesia, the United Kingdom, Italy, Japan, Germany, Canada, Mexico, Republic of Korea, Russia, France, China, Turkey, and the European Union.

On October 31, 2021, President Jokowi officially received the baton for the G20 Presidency from Italian Prime Minister Mario Draghi. Next, Indonesia will hold the G20 Chairmanship or Presidency starting from December 1, 2021 until early November 2022. During the chairmanship, Indonesia will hold the G20 Summit and a number of other related international meetings.

Carrying the theme “Recover Together, Recover Stronger”, the G20 Indonesia Presidency encourages joint efforts to recover together and grow stronger and more sustainable.***


Jakarta, January 7, 2022 – On 22 December, the creditor committee (CC) for Chad met virtually, with IMF staff and World Bank staff also in attendance. The CC formed by China, France, India and Saudi Arabia committed to negotiate with the Republic of Chad under the Common Framework for Debt Treatment beyond the DSSI, which has been endorsed by the G20 and the Paris Club.

As G20 Presidency, Indonesia welcomes the commitment made by the members of the committee as a further substantial step towards the timely implementation of the Common Framework, and takes note of their joint statement.


January 7, 2022



The creditor committee for Chad formed by China, France, India and Saudi Arabia and co-chaired by France and Saudi Arabia (hereinafter “the creditor committee”) met virtually on December 22, 2021, in presence of the IMF staff and the World Bank staff.

The creditor committee welcomed the approval of the IMF upper credit tranche (UCT) program by the Executive Board on December 10, 2021, for which the June statement of the creditor committee was critical. The approval of the program for Chad by the IMF Executive Board addresses Chad’s urgent financing needs. The creditor committee encourages Multilateral Development Banks (MDBs) to provide quick financial support to Chad to meet its long-term financial needs.

As stated previously, creditor committee members are committed to negotiate with the Republic of Chad terms of a restructuring of their claims, consistent with their national laws and internal procedures, in a timely, orderly and coordinated manner.

The creditor committee reiterated that the Chadian authorities are expected to seek from all private and other official bilateral creditors debt treatments on terms at least as favorable as those being considered by the creditor committee, in line with the comparability of treatment principle. Consequently, creditor committee members stressed the importance for all private and other official bilateral creditors to negotiate in good faith in order to conclude such debt treatments with Chad as soon as possible and noted the commitment of Chad’s main private creditor to engage in good faith discussions for restructuring its claims. The creditor committee remains ready to have an engagement with private creditors, prior to the signature of the MoU with Chad.  

Background notes 

1. The creditor committee for Chad was formed on April 15, 2021, in application of “Common
Framework for Debt Treatments beyond the DSSI” endorsed by the G20 and the Paris Club in November 2020.

2. The members of the creditor committee for Chad are representatives of the governments of China, France, India and Saudi Arabia. France and Saudi Arabia co-chair the creditor committee.

Observers at the meeting were representatives of the International Monetary Fund and the World Bank Group.

Chairman in Charge of G20 2022 Side Events, Trade Minister, Ensures Local Wisdom Becomes added-value

Jakarta, January 7, 2022 – The Minister of Trade of the Republic of Indonesia as well as the Chairperson in Charge of Organizing the G20 Side Events, Muhammad Lutfi, ensured that Indonesian local wisdom will become the added value of the 2022 G20 Side Events agenda. This also serves as an effort to give due prominence to Indonesia’s Presidency at this year’s G20 in its efforts to restore the world economy.

Trade Minister also optimistic that all G20 Side Events agenda will have an important impact on the entire series of G20 Meetings held in Indonesia this year. Recorded on December 24, 2021 as the deadline for the G20 Side Events inventory, there are 121 side events to be held in 20 Indonesian cities from December 2021 to October 2022.

“The G20 Side Events aim to give G20 members a more complete understanding of the priority agenda of the G20 Presidency. The G20 Side Events must also be a showcase of the positive image of Indonesia’s development and culture. The showcase of the philosophy of noble cultural values ​​is displayed periodically in a number of separate side events. The organisation of side events is expected to have an impact on the economy, both in the region where the event is held and in Indonesia in general,” said Trade Minister.

According to Lutfi, the momentum of Indonesia’s Presidency in the G20 is very crucial. Indonesia is playing its active role as part of the world’s efforts to recover from the Covid-19 pandemic, while making an endeavour to revive the world economy which has been affected by the pandemic.

“The G20 meeting must become a platform to introduce lifestyle, resilience in crises and pandemics, as well as the ability to restore health, the economy, and superior products of the G20 members so that they can help drive the global economy,” said Trade Minister.

Of the 121 side events, seven will be held during the G20 Summit series of activities in Bali in October 2022. The forms of this year’s side events include seminars, economic cooperation forums, cultural performances, trade promotions, exhibitions, kick-off meetings, and field reviews.

At least 15 ministries and seven institutions are in charge of side events activities during the G20 series of events are held in Indonesia. The 15 ministries include the Ministry of Trade, Ministry of Finance, Ministry of Industry, Ministry of Communications and Informatics, Ministry of Women Empowerment and Child Protection, Ministry of Agriculture, Ministry of Health, Ministry of Tourism and Creative Economy, Ministry of Manpower, Ministry of Environment and Forestry, Ministry of Investment/Investment Coordinating Board, Ministry of National Development Planning/Bappenas, Ministry of Youth and Sports, Ministry of Home Affairs, and Ministry of Cooperatives and SMEs.

Meanwhile, the seven institutions include Bank Indonesia, the Corruption Eradication Commission, the Indonesian Academy of Sciences, the National Research and Innovation Agency, the Supreme Audit Agency, Indonesian Youth Diplomacy, and the Chamber of Commerce and Industry.

“Synergy of all relevant ministries and institutions is needed to make Indonesia’s G20 Presidency 2022 a success, including the implementation of a series of side events. Indonesia’s success in this year’s G20 Presidency will accelerate the recovery of global conditions after the Covid-19 pandemic and also encourage Indonesia to recover from the pandemic,” concluded Trade Minister.

Kicking off G20 Empower and Women20, Minister of PPPA Invites All Parties to Encourage Women’s Potential to Restore the Economy

Yogyakarta, 22 December 2021 – The Ministry of Women Empowerment and Child Protection (Ministry of PPPA) staged the G20 Empower and Women20 (W20) Ceremonial Kick-Off virtually, coinciding with the height of the 93rd Mother’s Day Commemoration today. At this event, the Minister of Women Empowerment and Child Protection Bintang Puspayoga reiterated that women have enormous potential in supporting and encouraging the nation’s economic growth and that these opportunities and potentials must be expanded and supported by all parties through global cooperation, specifically the G20.

 “Women’s and marginalized groups’ participation is a major concern in Indonesia’s leadership in the G20. We believe that through the global collaboration between the Government, Regional Governments, the private sector, international institutions, academia and Civil Society Organizations (CSOs), and other stakeholders, the challenges faced by women, especially in dealing with the impact of the post-COVID-19 recovery period, can be addressed.” Minister Bintang said at the G20 Empower and Women20 (W20) Ceremonial Kick-Off, which was streamed live online. 

The Minister of Foreign Affairs Retno Marsudi said that a shift in thinking is required to make a significant effect on women’s empowerment. This is the first step that should be supported by creating a welcoming environment and giving women equal opportunities to contribute. “Indonesia’s presidency at the G20 brings the spirit of inclusiveness. Indonesia’s main focus during the G20 would be on empowering vulnerable populations, such as women and children.”

Women have been disproportionately affected by the COVID-19 pandemic. Based on the UN Women report, women whose salaries are mostly derived from family businesses have seen a considerable drop in income of up to 82 percent. Furthermore, throughout the pandemic, women were burdened with more domestic concerns and unpaid care. Both women and men are affected by rising household problems and workloads, with 69 percent of women and 61 percent of men locked in unpaid domestic labor.

Following up on this, Minister Bintang hoped that the agenda related to strengthening the role of women, particularly during the COVID-19 recovery process, can be discussed more deeply at the G20 forum, which is in line with the Indonesian Presidency’s theme of ‘Recover Stronger, Recover Together,’ so that it can contribute to the development of global strategies and policies, which are in line with the ‘Brisbane Goals,’ as well as national policies.

At the G20, there were 2 (two) special groups that discussed improving women’s positions and equality, namely G20 Empower, which consists of a government and private alliance, and Women20, which is an engagement group. Indonesia has selected the agenda or work theme to be discussed in each of these groups.

G20 Empower focuses on three major themes: company accountability for Key Performance Indicators (KPI) to encourage leadership and strengthen the company’s position in the workplace; private sector and government efforts to continue to encourage and support the role of women in SME (Small Medium Enterprises) as an economic driver; and developing women’s future readiness in the digital economy.

Meanwhile, four topics will be discussed in the W20 Indonesia. First, the promotion of equality, security, and welfare by eliminating discrimination that hinders women’s participation in the economy. Second, the promotion of economic inclusion by supporting women-owned and managed MSMEs. Third, the increasing resilience by addressing vulnerability, with a focus on women with disabilities and rural women. Fourth, a health response that is gender-equal.

Minister Bintang believed that women would confront numerous complex challenges in the future. “With the advancement of technology 4.0, it is critical to give equal opportunities for women in the workplace and in business. “This issue must be studied and remedies to be found for the sake of strengthening the quality and capacity of women in the future,” he added.

Furthermore, Minister Bintang hoped that the topic of women’s empowerment can continue to be improved through the G20 forums that discuss efforts to expand women’s participation and involvement in global and local communities, in order to better and strengthen women’s bargaining position in society. The Ministry of PPPA will also continue the initiatives of Italy and is committed to hosting a Ministerial Meeting on Women’s Empowerment during the 2022 Indonesian Presidency in Bali.

“I believe that the Indonesian Presidency of the G20 can continue to encourage the creation of concrete actions through the development of recommendations, policies, and sharing of experiences, as well as by collaborating and building common strengths to continue to support equality and promote women’s strategic position,” Minister Bintang said.

The Kick-off meeting at the same time inaugurated the Chair and Co-Chair of Women20 Indonesia, namely the Chair of the Indonesian Women’s Congress (KOWANI) Hadriani Uli Silalahi and the President Director and CEO of XL Axiata Dian Siswarini. In addition, the Chair and Co-Chair of G20 Empower are Director and Chief Strategic Transformation and Information Officer of XL Axiata Yessie D. Yosetya, Chair of the Permanent Committee for Education for the Indonesian Women Entrepreneurs Association (IWAPI) Rinawati Prihatiningsih, and Assistant Deputy for Professional Institution Participation and the Business World of the Ministry of PPPA Eko Novi Ariyanti as the government’s representative in the G20 Empower.

Indonesia’s G20 presidency commenced on December 1, 2021. As the mother ministry of the G20 Empower alliance and the Women20 engagement group, the Ministry of PPPA is actively involved in the G20 implementation. The Indonesian delegation will outline the priority agenda for the G20 Indonesia Presidency at this ceremonial event. Furthermore, G20 members, representatives from invited nations, civil society organizations, and relevant international organizations are expected to discuss and propose concrete initiatives in order to produce concrete actions that respond to global concerns.

During the year 2021, G20 Empower held several series of activities nationally, including hosting a series of webinars to highlight the critical role of women in the business sector and the workplace; and recruiting over 50 Empower G20 advocates who are CEOs/Senior Directors of Indonesian firms. Empower’s G20 advocates are expected to be able to advocate for and establish programs, procedures, and policies in their organizations that promote gender equality and opportunity, as well as contribute more broadly to the community and society.

W20 Indonesia collaborates with International Knowledge Partners, UN agencies, civil society organizations, academia, government agencies, the private sector, and other stakeholders. Several W20 hybrid side events will be held in a number of cities of Indonesia in 2022, such as Batu, Likupang, Banjarmasin, and Manokwari. By showcasing gender equality and women’s empowerment in diverse parts of Indonesia, the Grand W20 Summit will take place from 27 to 29 July 2022 in Lake Toba, North Sumatra.

G20 Finance and Central Bank Deputies Meeting Runs Well with Productive Discussions

The convention of first Finance and Central Bank Deputies Meeting (FCBD) on December 9-10, 2021, which jumpstarted Indonesia’s G20 Presidency in the finance track was smooth and filled with productive discussion of agenda. In addition, the meeting received appreciation from G20 members, invitee countries, and international organization. This was stated in a press conference attended by Expert Staff to Minister of Finance for Macroeconomics and Finance, Wempi Saputra, and Deputy Governor of BI, Dody Budi Waluyo, today (Dec. 10) in Nusa Dua, Bali.

“The G20 is a forum for international cooperation where agendas for global economic order reform are discussed. By becoming the G20 Presidency, Indonesia leads the discussion on global economic and financial reform agendas to create a better governance and operating environment for global economy and finances and support the ongoing global economic recovery process.” said Wempi Saputra, Expert Staff to the Minister of Finance for Macroeconomics and International Finance as the G20 Deputy for Finance.

The Deputy Governor of BI, Dody Budi Waluyo, said, “The quality of preparation for the Indonesian Presidency was appreciated by all participants in terms of substance and implementation of events that took place in a hybrid manner with strict health protocols. We appreciate all participants in the Finance Track for their strong inter-agency collaboration, support from the Bali Provincial Government and also media partners.” Furthermore, Dody said that the six agendas raised in the Indonesian Presidency had been discussed with all participants and received good support.

FCBD covered 6 topics which were discussed in 6 sessions. The main issues discussed in session 1 included (i) the global economic outlook and risks; (ii) normalization of policies related to the pandemic; and (iii) the long-term impact of the pandemic. In the discussion of policy normalization related to the pandemic, the majority of members raised the importance of coordinating vaccine distribution and the need for vaccine funding, as well as the need for proper communication and phasing in policy normalization. In addition, structural reforms to increase efficiency and productivity are considered to be able to support efforts to overcome the long-term impact of the pandemic. In session 2, the discussion covered the issues of (i) the International Financial Safety Net; (ii) poor countries debt; and (iii) Central Bank Digital Currency. The discussion focused on the role of the G20 in maintaining global financial stability amidst increasing uncertainty, as well as joint efforts to address risks and support vulnerable countries.

Session 3 saw discussions on how to strengthen financial sector stability to promote inclusive and sustainable economic recovery. Discussions on the agenda of financial sector regulation include normalization of pandemic-related policies in the financial sector in order to support recovery and maintain financial sector stability. Also discussed were the efforts to overcome the long-term impact of the pandemic on the financial sector by continuing financial sector reforms to strengthen financial sector resilience and encourage intermediation. Other agendas that were also raised included efforts to strengthen non-bank financial institutions (NBFIs) resilience, especially those related to risk mitigation efforts, digital financial risk identification, as well as efforts to encourage the financial sector role in supporting sustainable financing and efforts to expand financial inclusion.

Session 4 discussed sustainable finance in relation to environmental-related agendas where the Deputies expressed support for the transition to a more equitable and affordable green economy. Furthermore, in session 5, the issue of quality and sustainable infrastructure was discussed. The deputies also discussed the importance of infrastructure inclusiveness in local governments. The meeting was concluded with a discussion on international taxation where the Deputies agreed to immediately implement Pillar 1 and Pillar 2 to create a more fair and stable taxation architecture.

The FCBD was held in a hybrid manner and attended by G20 members, invitee countries, 20 international organizations, and 3 regional organizations. The results of the discussion of the first deputies meeting will be further discussed in a more detail and concrete manner at the working group level of which the result will be raised to the ministerial level and at the summit.

Finance Track for Indonesia’s G20 Presidency Begins: Global Leadership Sustainability Drives Economic Recovery

The finance track for Indonesia’s G20 presidency officially commences today December 9, with the first Finance and Central Bank Deputies Meeting (FCBD) taking place on December 9—10, 2021. This was conveyed by the Minister of Finance Sri Mulyani Indrawati and BI Governor Perry Warjiyo at a press conference in Nusa Dua, Bali.

Currently, the world is still facing high levels of uncertainty due to the pandemic. Inequalities in economic recovery between advanced and developing countries that are still trying to recover from the pandemic due to limited access to vaccines widened. The improvement in global economic performance, especially in advanced countries, accompanied by growing inflationary pressures has also led to tighter policies (tapering), potentially making these recovery disparities worsen. Meanwhile, a prolonged pandemic will cause persistent or ‘scarring’ effects; thus, the right exit strategy and efforts to overcome the scarring effect problem are prerequisites for a sustainable recovery. The main agenda of Indonesia’s G20 presidency as directed by the President of the Republic of Indonesia is narrowed into 3 areas, specifically inclusive health, digital transformation, and energy transition. In addition to realizing equitable vaccination, Indonesia’s G20 presidency is expected to succeed in accelerating digitization and directing global policy coordination related to climate finance.

The Minister of Finance Sri Mulyani Indrawati in a press conference said, “Indonesia’s G20 presidency will be an opportunity for Indonesia to show its role in leading global forums to address various challenges and issues at the world level. Indonesia is determined to overcome the global challenges that will continue to arise and seek the best solutions, ensure that all countries recover together, and encourage policy reforms that support stronger, sustainable, balanced, and inclusive economic growth post-pandemic. Accordingly, Indonesia’s G20 presidency will be carried under the theme Recover Together, Recover Stronger“. The Ministry of Finance and BI will encourage discussion of six (6) priority agendas in the financial track, specifically (1) Coordination of exit strategies in supporting global recovery, (2) Efforts to handle the scaring effects of the pandemic on the economy to support stronger growth in the future, (3) Strengthening payment systems in the digital era, (4) Development of sustainable finance, (5) Improvement of an inclusive financial system, and (6) International Tax Agenda.

In an agreement with the statement of the finance minister, BI Governor Perry Warjiyo, on the same occasion stated, “This initial meeting plays an important role in ensuring the sustainability of the G20 presidency in supporting global economic recovery both in the short and long term, in line with the theme Recover Together, Recovering Stronger”. In maintaining sustainability and strengthening global collaboration, today’s FCBD meeting involved the troika finance minister, namely the Italian Minister of Economy and Finance Daniele Franco, the Indonesian Minister of Finance Sri Mulyani Indrawati, and the Indian Minister of Finance Nirmala Sitharaman, in a hybrid High-Level Discussion which discussed various priority agenda in facing economic challenges. The meeting also discussed Recover Together: Policy Setting for Smooth Exit Strategy, and Recover Stronger: Addressing Scarring Effect to Secure Future Growth. The discussion presented panelists from the International Monetary Fund (IMF), Financial Stability Board (FSB), World Health Organization (WHO), World Bank, Bank for International Settlement (BIS), and Organization for Economic Cooperation and Development (OECD). Furthermore, Perry added that the finance track priority agenda in the G20 Presidency is relevant to BI tasks, including international cooperation in normalizing monetary policy, the implementation of regulations in the financial sector that is conscientious to financial sector readiness, and digitizing payment systems, including the Central Bank Digital Currency (CBDC).

In its G20 Presidency, Indonesia will continue several legacy issues, specifically (1) Integrating pandemic and climate risks in monitoring global risk; (2) Strengthening the Global Financial Safety Net (GFSN); (3) Increasing Capital Flow; (4) Continuing the Data Gap Initiatives; (5) Improving Financial Sector Regulatory Reform; (6) Strengthening debt management and transparency; (7) Accelerating the infrastructure agenda towards sustainable and inclusive development; (8) Optimizing financing support from multilateral development banks (MDBs); (9) Strengthening health system capacity in pandemic prevention, preparedness and response; and (10) Continued support for attracting private sector investment in low-income countries, such as in the African region.

The priority agenda and legacy issues of Indonesia’s G20 Presidency are expected to balance the global agenda with domestic priorities and interests, as well as align the interests of various parties, both developed and developing countries.

Kicking off G20 Presidency, Indonesia Holds First G20 Sherpa Meeting in Jakarta

“The G20 must be a catalyst for an inclusive, strong, and sustainable global recovery,” Indonesian Minister of Foreign Affairs Retno L.P. Marsudi emphasised when opening the first G20 Sherpa Meeting, December 7, in Jakarta. The meeting, scheduled to last December 8, 2021, was the first of more than 150 meetings planned to take place throughout Indonesia’s G20 Presidency.

The Minister also encouraged the G20 to achieve concrete results in three priority areas, namely health, digital transformation, and energy transition, which, she said, “will bring great benefits to global community and the achievement of the SDGs”.

In line with the statement, Indonesian Coordinating Minister for Economic Affairs, Airlangga Hartarto, in his keynote speech, stated that the G20 must promote a forward-looking and action-oriented agenda. He pointed out a number of Indonesia’s strategic plans during its G20 Presidency, including from mobilizing global health funding, establishing vaccine hubs in various regions of the world, empowering MSMEs through digitalization, to establishing technology collaboration in the energy sector.

The first Indonesia’s G20 Sherpa Meeting was chaired by Indonesia’s G20 Co-Sherpas, Ambassador Dian Triansyah Djani who is a Special Advisor to the Minister for Foreign Affairs on the Strengthening of Priority Programs, and Dr. Edi Prio Pambudi Advisor to the Coordinating Minister on Economic Affairs for Connectivity, Service Development, and Natural Resources. This meeting is strategically essential for it discusses the priorities and work plans of the Indonesia’s G20 Presidency in realizing the vision of “Recover Together, Recover Stronger”.

The meeting specifically presented 2 prominent briefers, namely Dr. Tedros Adhanom, Director General of the World Health Organization (WHO) and Dr. Mari Pangestu, the World Bank Managing Director. Dr. Tedros in his presentation on the current state of the handling COVID-19 pandemic emphasized the importance of strengthening global health funding governance and schemes, also related to prevention, handling, and readiness to face a pandemic. Meanwhile, with respect to the world economic recovery, Mari Pangestu who was  representing the World Bank conveyed global economic growth prospects as well as possible collaborations to encourage world economic recovery.

This Sherpa meeting serves as an opportunity for each G20 Working Group chaired by Indonesia to convey their priorities. The Working Groups include Health; Development; Education; Employment; Digital Economy; Investment, Trade and Industry; Agriculture; Environment and Climate Change; Energy; Corruption Eradication; Tourism; and Women’s Empowerment.

In general, the delegates welcomed Indonesia’s priorities presented in each Working Group. In particular, there is an opportunity for Indonesia to play its role in bridging the views of developed and developing countries

Indonesia also made a new breakthrough in this Sherpa meeting, by introducing a Sherpa retreat session called the “Sofa Talk”. This is a brainstorming session for the G20 Sherpas, for a more in-depth and open dialogue about efforts to continuously improve the G20’s relevance and performance. On the sidelines of the meetings, there was a visit to the Center for Digital Industry Innovation (PIDI) in South Jakarta, as an effort to introduce Indonesia’s digital industry and SMEs.

Sherpa Track is a G20 track that oversees discussions on development in various fields. The Sherpa meeting was participated by delegations from 24 member countries, invitees and international organizations who attended the meeting in person in Jakarta, while 15 delegates attended the event virtually.

1st G20 Sherpa Meeting: Indonesia Calls for World’s Cooperation to Achieve Inclusive, Sustainable Economic Recovery

Indonesia’s G20 Presidency in 2022 is the third G20 presidency in the midst of the  COVID-19 pandemic hit the world, so it becomes a vital part of the global economic  recovery process. In fact, the COVID-19 pandemic is still ongoing, especially with the  presence of a new variant. In addition, the inequable global economic recovery has  caused an increase in poverty and a failure in achieving SDGs’ target by 2030. 

Therefore, global collaboration through the G20 forum is needed to reshape the health  architecture and governance, as the main requirement in realizing the world’s  economic recovery. As a premier forum for multilateral economic cooperation, the G20  now has to produce concrete steps and major breakthroughs to speed the collective  recovery and become stronger. 

“The G20 Presidency is an opportunity to show Indonesia’s leadership in the global  arena to address various challenges. Of course, the national interest is also the  Indonesian Government concern that includes realizing an inclusive, strong, and  sustainable economic recovery,” said the Coordinating Economic Affairs Minister  Airlangga Hartarto in a keynote speech in the 1st Sherpa Meeting of the G20 Indonesia  in Jakarta, Tuesday, Dec. 7. 

In line with the WHO’s target of 40 percent of the total population receiving the second  dose of vaccine, Indonesia is expected to reach about 113 million people receiving the  full dose or 41.8 percent of the country’s total population or about 54.3 percent of the  total target by the end of 2021. Currently, the second dose vaccination program has  reached 99.6 million people or about 37 percent of the total population, about 47.8  percent from the target. 

Therefore, Indonesia carries the theme “Recover Together, Recover Stronger” in its  G20 Presidency. Through this theme, Indonesia calls for the world’s cooperation to  achieve a stronger, inclusive, and sustainable economic recovery. The G20 should be  able to expand the economic inclusion and handle a variety of structural problems that  inhibit efficiency and productivity.

Indonesia’s G20 Presidency carries 3 main topics, namely: 

• the global health architecture: an attempt by Indonesia to rebuild and  strengthen the post-pandemic global health governance and architecture as  well as to encourage ASEAN countries, especially Indonesia, to become a  transfer hub for the development and production of vaccines;  

• digital-based transformation: an effort to create economic value through digital  technology and encourage the digitization of new growth engines; and  • energy transition; an attempt to expand access to technology towards clean  and affordable energy and fund to accelerate the transition towards more  sustainable energy. 

“The three main topics will be a guidance to produce policy recommendations that are  more pro-people, concrete, and applicable,” said Minister Airlangga. 

Indonesia’s G20 Presidency is expected to contribute to the national and global  economic recovery, including small and developing countries. Indonesia would like to  invite the G20 member states, invited guest countries, and international organizations  to formulate concrete actions for the global economic recovery. 

“The arrivals of delegations are also expected to bring economic benefits to  Indonesians, both directly, for instance, in accommodation, hospitality, transportation,  and SMEs sectors, as well as indirectly by increasing the investors’ confidence to  Indonesia,” said Minister Airlangga. 

The 1st G20 Sherpa Meeting is the first and the opening of the series of meetings of  Indonesia’s G20 Presidency held in Jakarta on Dec. 7—8. It will be followed by the  First Deputy of Finance and the Central Bank Meeting (Finance Track) in Bali on Dec.  9—10. 

At both the Sherpa Track and Finance Track meetings, Indonesia will raise the priority  agendas that become Indonesia’s G20 Presidency focus. The G20 members, invited  guest countries, and international organizations are expected to discuss and formulate  concrete and deliverable initiatives that are responsive to global challenges. 

“The G20 Forum is expected to be a wake-up call for all of us and not to be an ‘Ivory  Tower’ which is not sensitive to global economic conditions. It is important for the G20  to be a troubleshooter over the global uncertainty and problems,” said Minister.

He also said that on the second day of the 1st G20 Sherpa Meeting on Dec. 8, the G20  Sherpas will visit Indonesia Digital Industry Center 4.0 (PIDI 4.0) which becomes one  of concrete initiatives by Indonesia to promote the digital industry and realize the  digitization of industry. 

PIDI 4.0 is a one-stop solution in accelerating the Industry 4.0 transformation in  Indonesia and a window of Indonesia 4.0 to the world. PIDI 4.0 offers five main  services in helping the conventional industry’s transformation to Industry 4.0, namely  Showcase Center, Delivery Center, Capability Center, the Ecosystem for Industry 4.0,  and Engineering and AI Center. 

“Making Indonesia 4.0 is an Indonesian proposal that is industry 4.0 transformation,  creating a modern, eco-friendly, sustainable, and highly competitive industry  ecosystem,” said Minister Airlangga. 

Foreign Minister Retno Marsudi added Indonesia’s G20 Presidency shall be able to  produce concrete solutions, particularly to the global economic recovery. The G20  should be able to produce benefits for all parties, both east-west and north-south. 

“The G20 should be down-to-earth in generating solutions to address global  challenges. The G20 should also be a driving force for a more inclusive and  sustainable the recovery. G20 Sherpas have a major role in giving clear directives to  turn challenges into opportunities and guide our leaders in an ever-changing world,”  said Minister Retno. (rep/fsr/hls/t.flw) 


Secretary of the Coordinating Ministry for Economic Affairs 

Susiwijono Moegiarso 


Twitter, Instagram, Facebook, and Youtube: @PerekonomianRI  Email:  

LinkedIn: Coordinating Ministry for Economic Affairs of the Republic of Indonesia


President Jokowi Calls for Concrete Action to Recover Together at Indonesia’s G20 Presidency Inauguration

JAKARTA, December 1, 2021 – Indonesia officially assumes the G20 Presidency 2022. The inauguration was marked by President Joko Widodo’s speech at Indonesia’s G20 Presidency Opening Ceremony on Wednesday, Dec. 1, at Lapangan Banteng Square, Central Jakarta.

President Joko Widodo is honored to be entrusted as the G20 Presidency given to the country for the first time. “Today is a day to remember for the course of Indonesian history, because for the first time, Indonesia, a developing country, is trusted to assume the G20 Presidency. This is also an opportunity for Indonesia to show the world that Indonesia can give a greater contribution to the world economic recovery and healthier and equitable governance development founded upon freedom, eternal peace, and social justice,” said President Joko Widodo.

Under the theme ‘Recover Together, Recover Stronger’, Indonesia raised three priority issues, namely inclusive healthcare, digital transformation, and sustainable energy transition. President Joko Widodo is committed that the Presidency will produce a series of real actions along with the other member states, not just a ceremonial event. 

“Through concrete initiatives, the world will soon recover and rise stronger. Recover Together, Recover Stronger,” said the President.

In his speech, President Joko Widodo also ensures Indonesia’s G20 Presidency will be used to promote the aspirations and interests of developing countries.  Indonesia will seek to build a healthier and equitable world governance and ensure the impact can be felt by the entire community.

Inclusiveness and togetherness are the key words of Indonesia’s G20 Presidency. By raising the commitment of developed countries to assist developing countries, Indonesia seeks to strengthen solidarity in the effort to address climate change to realize sustainable development.

At the Opening Ceremony, the Coordinating Economic Affairs Minister symbolically handed over tasks to the chairs of the Working Groups (WG) and Engagement Groups (EG) who will lead a series of G20 meetings next year.

The Opening Ceremony which was organized by the Coordinating Ministry for Economic Affairs in collaboration with the Provincial Government of DKI Jakarta was enlivened by the art and music performances of the national artists. The Provincial Government of DKI Jakarta is also a Co-chair of Urban20, one of the Engagement Groups of the G20.

“Famous for its natural beauty and its culture, I invite the delegates to come to Indonesia to witness the uniqueness of cultural diversity and feel the hospitality of the people of Indonesia. Indonesia has also a variety of delightful culinary. With open arms and full of excitement, I would like to say: Welcome to Indonesia,” said the President. 


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Usman Kansong

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