After having successfully hosted the 2018 Asian Games last September, Indonesia hosted the 2018 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group on Bali on 8-14 October. Every year, the IMF and World Bank organize these meetings to discuss the latest financial and economic developments that occurred across the globe, while also poverty eradication and other key global issues – such as protectionism and climate change - are placed high on the agenda. The main themes of this year’s meetings include digital development and investing in human capital, which resulted in the “Bali Fintech Agenda” as well as the launch of “Human Capital Index”.
Having the meetings on the island of Bali has a number of interesting advantages for Indonesia. Firstly, ahead of the meetings the Indonesian government sped up infrastructure development on Bali in order to allow a smooth flow of people and goods. After all, about 30,000 people were expected to visit these meetings with some 20,000 people coming in from 189 foreign countries.
This articles discusses:
• what are the advantages of the IMF-World Bank meetings for Bali's local economy?
• what did Indonesia gain from the IMF-World Bank meetings?
• what are the pieces of advice to strengthen the Indonesian economy?
Read the full article in the October 2018 edition of our monthly research report. You can purchase this report by sending an email to email@example.com or a WhatsApp message to the following number: +6287884106944