Saturday, 7 December 2019

IMF-World Bank Meetings to Boost Bali`s Economic Growth

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  • Managing Director of International Monetary Fund (IMF) Christine Lagarde, center left, shares a light moment with Indonesian President Joko Widodo, center right, during their visit at Tanah Abang Market in Jakarta, Feb. 26, 2018. Indonesia will host the annual meeting of International Monetary Fund & World Bank Group in October this year. AP

    Managing Director of International Monetary Fund (IMF) Christine Lagarde, center left, shares a light moment with Indonesian President Joko Widodo, center right, during their visit at Tanah Abang Market in Jakarta, Feb. 26, 2018. Indonesia will host the annual meeting of International Monetary Fund & World Bank Group in October this year. AP

    TEMPO.CO, Jakarta - The International Monetary Fund (IMF)–World Bank Annual Meetings are likely to jack up Bali's economic growth to 6.54 percent. 

    “By holding the IMF-World Bank annual meetings, Bali’s economic growth is set to increase by 0.64 percent and predictably reach 6.54 percent by the end of 2018,” said Bambang Brodjonegoro, the National Development Planning Agency (Bappenas) head, at the Finance Ministry today. 

    Read: Indonesia Likely to Get Rp5.9tn from IMF-World Bank Meetings 

    Bambang said that Bali would only see a 5.9 percent growth without the event, which would be similar to the sluggish 2017 growth following the eruption of Mount Agung, which dropped the number of tourist visits and exports. 

    Read: IMF-World Bank Meeting; Garuda Sets 14 Additional Flights 

    Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan, meanwhile, said the event’s preparations were 94 percent complete. A number of infrastructure projects have now entered their final stages, including the widening of the local airport's runway and an underpass construction. 

    Luhut hoped that the IMF-World Bank annual meetings would further promote Indonesia to the world, thus bringing stability to the country's economy.

    CAESAR AKBAR