Jakarta, 17 February 2022
May peace be upon you,
The Honorable, Minister of Finance of the Republic of Indonesia,
The Honorable, Governor of Bank Indonesia,
Finance Ministers and Central Bank Governors of the G20 member countries,
Head of International Financial Institutions and International Organizations,
Distinguished Guests, Ladies and Gentlemen,
As I mentioned at the IMF-World Bank Annual Meeting in 2018, the winter is coming.
And now, a severe winter is INDEED coming.
Pandemic is far from over, and the global economic is struggling.
During this situation, no single country could recover alone. All countries are interconnected, no one is
The rise of a region would trigger the rise of other regions.
On the other hand, the collapse of a region would result in the collapse of others.
In this circumstance, it is not a high time for rivalry.
It is not the time to create new tensions that could affect global recovery, let alone jeopardize the world peace as we’ve currently seen in Ukraine.
It is necessary that every party puts an end to rivalry and frictions.
We must focus on synergy and collaboration to save and build back the world we are living in, in order to bounce back and recover immediately.
Distinguished Guests, Ladies and Gentlemen, we must face this global uncertainty with synergy and collaboration.
We must work together to keep the rising inflation under control.
We must anticipate the food scarcity and the increase of food price.
We must overcome container scarcity and other logistics chain problems.
We must prevent starvation.
We have an obligation to also undertake several transformations.
We must accelerate the transition process towards new economy.
We must expedite digital transformation that is equal and affordable.
And we must encourage the growth of Micro, Small and Medium Enterprises.
This meeting among Finance Ministers and Central Bank Governors of the G20 member countries, must be able to formulate fiscal and monetary measures, that are aligned with each other in resolving collective problems, the global problems.
We must collaborate to overcome the global strategic problems with concrete and measurable outcomes so that the global economic growth would be more inclusive and sustainable.
Ladies and Gentlemen, with the spirit of recover together, recover stronger, Indonesia encourages discussions on global priority agendas.
We must strengthen of global heath architecture.
We must facilitate and finance the transition towards green economy as well as accelerate digital economic transformation.
Indonesia is enthusiastic to play its role as the G20 presidency to give contribution to the world. Indonesia would foster synergy and collaboration including that of among Finance Ministers and Central Bank Governors of the G20 member countries in formulating appropriate fiscal and monetary policies in order to solve world problems.
I have high hopes on the Finance Ministers and Central Bank Governors of the G20.
I wish this meeting would lead to concrete synergic and collaborative measures, that can be undertaken in no time, with tangible outcomes.
Recover together, recover stronger!
May peace be upon you!
Watch the welcoming speech video here: