BI Governor and Fed Chair Discuss Global Economy

Nusa Dua, InfoPublik - Bank Indonesia (BI) Governor Jerry Warjiyo had a discussion with the Federal Reserve Chairman Jerome Powell on the sidelines of the International Monetary Fund-World Bank Group 2018 Annual Meetengs in Bali, Friday (12/10).

Among the topics being discussed were global economic development as well as normalization of monetary policy in developed countries and its impact on developing countries. A written statement received on Saturday (13/10) reported that BI Governor explained how the policy mix formulated by the Indonesian government and BI has supported Indonesia's economic resilience to the impact of the global economy.

The two Central Bank Governors also discussed about the current conditions of their respective countries' economy, as well as exchange rates of developing countries.

"This is a rare moment amid the difficulties of monetary authorities in developing countries facing pressure on currency exchange rates which continue to be eroded due to expectations of a rise in the Fed's benchmark interest rate," the statement said.

On his briefing session with the media in Nusa Dua, Saturday (13/10), BI Deputy Governor Dody Waluyo revealed that the meeting between the two Central Bank Governors also touched discussed the deficit current account issue.

The IMF-World Bank Group 2018 Annual Meetings is the Annual Meeting of the Board of Governors of the International Monetary Fund (IMF) and the World Bank where bankers from central banks, finance and development ministers, parliamentarians, executives from the private sector, representatives from civil society organizations and academics gather to discuss issues of global concern, including world economic prospects, poverty alleviation, economic development, and aid effectiveness.