Indonesia Hosts ASEAN Finance Ministers and Central Bank Governors Meeting

The ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) is set to be held today, 31 March 2023.

IDXChannel - The ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) is set to be held today, 31 March 2023. The meeting is expected to produce concrete outputs.

Ahead of AFMGM, the Indonesian Finance Ministry and Bank Indonesia (BI) held  the ASEAN Finance and Central Bank Deputies Meeting (AFCDM) on Thursday, 30 March 2023, in Bali.
 
Earlier this week,  the ASEAN Finance Deputies Meeting (AFDM) and the ASEAN Central Bank Deputies Meeting (ACDM) were held. Indonesia also hosted the ASEAN Finance and Central Bank Deputies Meeting +3 (AFCDM+3) on 29-30 March 2023.

During the AFCDM meeting, the Head of the Fiscal Policy Agency (BKF) Febrio Kacaribu said, Indonesia's chairmanship this year would become a momentum for the country's important role in the region, especially in pushing ASEAN to become the center of global growth. .

"By bringing up the theme ASEAN Matters: Epicentrum of Growth, Indonesia believes that this theme reflects the resilience of ASEAN as a region in the midst of global uncertainties, such as inflation, supply chain disruptions, and geopolitical crises, as well as the ongoing impact of the pandemic," said Febrio in an official statement on Friday (31/3/2023).

For this reason, ASEAN is expected to continue to grow above four percent this year and remain an attractive investment destination. This can be achieved by strengthening cooperation, collaboration and coordination between ASEAN countries.

Meanwhile, Deputy Governor of BI, Dody Budi Waluyo, encouraged ASEAN to strengthen policy coordination to support economic recovery, encourage growth, and increase financial stability.

Furthermore, Dody emphasized the need for ASEAN to  collectively carry out steps and policies related to economic recovery and growth, digital economy and sustainable finance.

In addition, he stressed the importance of conducting a thorough assessment to strengthen ASEAN cooperation in order to respond to challenges and dynamics in the future.

The ASEAN Financial Channel is under the ASEAN Economic Pillar.During Indonesia’s chairmanship, the Finance Ministry, BI and the Financial Services Authority (OJK) have proposed three priority economic deliverables (PEDs).

The three PEDs are maintaining recovery and ensuring economic and financial stability and resilience in the ASEAN region, advancing payment system connectivity and promoting digital financial literacy and inclusion to support inclusive economic growth, as well as strengthening financial sector resilience, and promoting sustainable finance and green economy.
 
Furthermore, the results of the AFCDM and previous meetings will be brought to the upcoming AFMGM. (WHY)