INDONESIA BOOSTS COOPERATION WITH IFC IN FACING ECONOMIC CHALLENGES

JAKARTA, April 23 (Bernama-ANTARA) -- The Indonesian government continues to increase cooperation with the International Finance Corporation (IFC) in facing global economic challenges, reported ANTARA news agency.

This was conveyed by Indonesian Finance Minister Sri Mulyani Indrawati during her meeting with IFC Managing Director Makhtar Diop on the sidelines of the IMF-World Bank Spring Meetings in Washington, DC, the United States, on April 19.

"The bilateral meeting is expected to bolster cooperation between Indonesia and the IFC and have a positive impact on Indonesia's welfare," Sri said in a statement issued on Monday.

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The meeting discussed several topics, including the current landscape of the global and domestic economies and the cooperation to be forged between Indonesia and the IFC.

The two parties agreed that global economic challenges are continuing to change and uncertainty is rife, especially amid the year of general elections scheduled in more than 70 countries.

Sri noted that this situation is likely to prompt alterations in the foreign policies of nations worldwide.

The IFC is an arm of the World Bank that is helping eradicate poverty in developing countries, including Indonesia, through cooperation with the private sector.

Sri expressed appreciation for the IFC's initiative to broaden its operations in Indonesia, particularly commending their dedication to safeguarding the welfare of vulnerable groups.

So far, the IFC's investment in Indonesia has reached US$9.6 billion.

"Hopefully, this cooperation can continue to provide answers to the challenges of the current developments," she said.

During the IMF-World Bank Spring Meetings, Sri spoke about global, regional, and national economic conditions that are changing very quickly and becoming volatile on the account of geopolitical tensions in the Middle East and various parts of the world.

-- BERNAMA-ANTARA