Global recovery must be balanced across nations: Finance Minister

Finance Minister Sri Mulyani Indrawati stressed that global recovery from the impact of the COVID-19 pandemic, which had ploughed on for the second year, must be balanced across nations.

The minister made the statement during the 2021 International Monetary Fund – World Bank Group (IMF-WBG) Spring Meetings on April 5-11, 2021, held virtually.

“There are still challenges in the form of imbalance in global recovery. Several countries are projected to grow positively in 2021, while the hard-hit countries have a much lower projection,” the minister noted in an official statement received here on Wednesday.

Indrawati remarked that the driving factors, such as vaccination programs, policy support, and the global economic prospects, were viewed as getting better though not been able to restore the global economy evenly across all countries.

Hence, the minister encouraged the World Bank and IMF to continue to collaborate with various partners, including international institutions and the private sector as well as all countries in the world.

Indrawati expounded that the collaboration was aimed at boosting access to vaccines, managing the financing burden, and applying a strategy for restoring economic growth.

The finance minister believes that a comprehensive and sustainable global economic recovery would be able to encourage job creation and economic improvement.

Meanwhile, the minister ensured that the Indonesian government had continued to pay attention and focus on improving the quality of human resources.

This attention is apparent from the coordinated investment in public service delivery systems in order to build, protect, and optimize human capital.

Indrawati believes that public finance plays a role in investing in human resources, including through vaccination programs, improving health services by utilizing technology, and social protection.

“These priorities do not only support recovery but also facilitate economic transformation,” the minister pointed out.

Source: Antara News

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