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    Indonesia Position Paper To Y20 Russia

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    Andhyta Firselly Utami
    The document outlines Indonesia's position on reforms to international financial architecture and sustainable development. It calls for emerging markets like Indonesia to have greater representation and voice at the IMF. It also stresses the importance of timely and consistent implementation of Basel III standards. Additionally, it emphasizes that long-term economic growth should be based on sound fiscal stability and managing public debt sustainability over the medium term. The document also supports encouraging public-private partnerships to develop infrastructure and boost renewable energy, education, healthcare, transportation networks, and agricultural productivity while addressing climate change and environmental protection.

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    Download as PDF, TXT or read online from Scribd

    Indonesia Position Paper To Y20 Russia

    Uploaded by

    Andhyta Firselly Utami
    245 views2 pages
    The document outlines Indonesia's position on reforms to international financial architecture and sustainable development. It calls for emerging markets like Indonesia to have greater representation and voice at the IMF. It also stresses the importance of timely and consistent implementation of Basel III standards. Additionally, it emphasizes that long-term economic growth should be based on sound fiscal stability and managing public debt sustainability over the medium term. The document also supports encouraging public-private partnerships to develop infrastructure and boost renewable energy, education, healthcare, transportation networks, and agricultural productivity while addressing climate change and environmental protection.

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    Position paper of Republic of Indonesia to Y20 Summit, St. Petersburg, 18-22 June 2013.

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    Indonesia Position Paper to Y20 Russia

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    The document outlines Indonesia's position on reforms to international financial architecture and sustainable development. It calls for emerging markets like Indonesia to have greater representation and voice at the IMF. It also stresses the importance of timely and consistent implementation of Basel III standards. Additionally, it emphasizes that long-term economic growth should be based on sound fiscal stability and managing public debt sustainability over the medium term. The document also supports encouraging public-private partnerships to develop infrastructure and boost renewable energy, education, healthcare, transportation networks, and agricultural productivity while addressing climate change and environmental protection.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    245 views2 pages

    Indonesia Position Paper To Y20 Russia

    Uploaded by

    Andhyta Firselly Utami
    The document outlines Indonesia's position on reforms to international financial architecture and sustainable development. It calls for emerging markets like Indonesia to have greater representation and voice at the IMF. It also stresses the importance of timely and consistent implementation of Basel III standards. Additionally, it emphasizes that long-term economic growth should be based on sound fiscal stability and managing public debt sustainability over the medium term. The document also supports encouraging public-private partnerships to develop infrastructure and boost renewable energy, education, healthcare, transportation networks, and agricultural productivity while addressing climate change and environmental protection.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    Position Paper: The Republic of Indonesia Indonesia has demonstrated resilient growth in the past few years despite

    headwinds affecting global growth. Furthermore, the country has an important role in representing the voice of emerging markets at the G20. Nonetheless, we believe there is room for improvement for Indonesia to further contribute towards strengthening the financial architecture, while promoting sustainable development. I. International Financial Architecture Reform

    I.1. Finding a New Design for International Financial Organizations: Enhancing the Voice of Emerging Markets in The International Monetary Fund (IMF) We believe that IMF needs to consider providing emerging markets an increasing representation of quota share and voting share. I.2. Strengthening Financial Regulation: Developing Mechanisms to Control Basel III Standards Implementation Despite some uncertainty on implementation proposals across regions, we continue to urge member countries to finish adopting the Basel III Reforms by 2019. We share the view that a timely and consistent implementation is fundamental towards building a resilient financial system, maintaining public confidence, and providing a level playing field for internationally active banks. I.3. Regulating Government Borrowings and Monetary Policy: Public Debt Sustainability and Review of Country-Specific Medium- and Long-Term Public Debt Targets Indonesia believes that long-term economic growth could be sustainable if it is based on multiple pillars, one of which includes sound fiscal stability. While reform priorities may vary, it is important for each G20 country to have a clear roadmap to bring debt ratios down over the medium term. However, we believe that focusing on hard fiscal targets or specific debt-to-GDP ratios will be inadequate, as an optimal fiscal adjustment should also take into account country or time or circumstances-specific factors. We also urge transparency on fiscal performance targets and clear follow-through on execution, while demonstrating continued commitments towards improving other relevant economic variables. When applicable, each country should ensure that the pace of fiscal consolidation is appropriate to support ongoing global growth recovery. I.4. Reforming International Capital Markets and Supporting Infrastructure Development: Developing Infrastructure Through Public-Private Partnership (PPP) and Funding Through Project Finance Transactions and PPP As part of global growth drivers, infrastructure investments are needed to meet crucial development, inclusion, and environmental goals. Indonesia delegates believe that many countries should further encourage PPPs in various sectors, where applicable. As a perspective, infrastructure development has been one of key focus areas of Indonesia towards achieving sustainable long-term economic growth, and it is in the phase of bolstering its public-private partnerships mechanics. Furthermore, we would welcome further progress under the Multi-Year Action Plan on development, including recommendations of the Action Plan of the Multilateral Development Banks (MDBs) and the High Level Panel on Infrastructure. Establishing a new infrastructure-focused development bank, for example, could help towards augmenting future funding needs, given expected rise in demand and inevitable funding constraints. The new institution should possess thorough understanding of project risk, know-how to assist with projects preparation, ample lending capacity, and appropriate financing instruments.

    II. Sustainable Development II.1. Energy Efficiency: Promoting Usage of Renewable Energy Sources and Energy Saving Mechanisms We should increase utilization of renewable energy by providing incentives to the consumers as well as to private sector producers. Furthermore, support has to be provided to research and development, along with related financing needs. II.2. Social Policy Optimization: Promoting Quality of Education, Reducing Unemployment Rate, and Improving Accessibility to Healthcare Quality of education is essential towards sustainable development. Specifically, we aspire towards higher employment rate for women and youth. To achieve this target, Indonesia should improve access to quality and holistic education, and facilitate programs to promote entrepreneurship. Furthermore, we encourage developing countries to raise awareness regarding health and wellness; and promote PPPs on widening access for the low-income families to services and medicines. II.3. Infrastructure Development: Developing Efficient Transport Network, Promoting Sustainable Urban and Rural Planning, and Developing Infrastructure through PPP We encourage improvement on intermodal transportation between developed provinces and developing provinces; further expansion of ports, airports, and roads to reduce logistical costs. Beyond economic growth, urban/ rural planning should also take into account environmental (such as climate change) and social (such as poverty) implications. Meanwhile, the PPP mechanics must be bolstered through risk mitigation and financial guarantees. Furthermore, we support the establishment of new infrastructure-focused development bank, which could help emerging markets towards augmenting funding needs. II.4. Nutrition Security and Environmental Protection Indonesian delegates highly support agricultural research and policies development on climate change adaptation programs, increased productivity, and improved access of food supply. To accelerate the implementation of green investments growth, we advocate widespread financing instruments and incentives. The Indonesian Delegation to Y20 Russia Summit 2013: Andhyta Firselly Utami (Head) Ariyanto Jahja Awidya Santikajaya Chandra Jinata Vincentius Dito Krista Holanda

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