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World Bank President Optimistic Annual Meetings 2018 to Run Well

Jakarta – World Bank President Jim Yong Yim on Thursday (5/7 ) began a two-day visit in Bali to check preparations of the Annual Meetings of IMF-World Bank Group 2018 by observing Garuda Wisnu Kencana or GWK statue progress that will be completed next month.

In the visit, the World Bank President was accompanied by the Coordinating Minister for Maritime Affairs Luhut Panjaitan, Finance Minister Sri Mulyani, Minister of General Works and Public Housing Basuki Hadimuljono and Disadvantaged Regions and Transmigration Minister Eko Putro Sandjojo.

“I know the project has long been set up and the current administration strives to finish it. I see the GWK statue is really majestic. I am sure inviting state leaders for a dinner here will be a special thing,” President Kim said after visiting the GWK park as quoted from the press release of the Coordinating Ministry for Maritime Affairs.

According to him, hosting the Annual Meetings isn’t an easy thing to do because the event will be joined by tens of thousands of participants.

“Conducting the annual meeting is a very complicated matter but I believe on the capability and commitment from the organizing committee under the leadership of Mr. Luhut, I am very optimistic the event will run smoothly and well,” he said.

The Minister said the government of Indonesia was very serious in preparing the event.

When asked for the activity of Mount Agung that has recently been more active, he said that he had met with several experts on volcanoes.

“I met with the Chief of the Volcanology and Geology Disaster Mitigation Center, Mr. Kasbandi and volcano expert, Mr. Soerono. They said very small possibility there will be an eruption as in 1963. So they said recent eruptions were small scales like Sinabung (mountain), and Mount Anak Krakatau. In case the eruption (of Mount Agung) occurs, the impacts will only up to between10-12 km. According to weather forecast, if there were eruptions during the Annual Meetings, wind will go to east. We are not really worried but remain cautious,” said Minister Luhut.

President Kim shared similar points. He is sure the organizing committee of the Annuals Meetings under the chairmanship of Minister Luhut will be able to handle everything. “No one can predict what will happen but I believe and have faith on Mr. Luhut’s team that everything can be solved,” he said when asked by similar question.

Annual Meetings is basically a yearly meeting of the Board of Governors of the IMF and the World Bank that discusses economy and finance development as well as development and global issues in Washington DC. Every three years, the event is held in one of the member countries after undergoing proposal and selection processes. This year, Indonesia is trusted to carry out the event that will see around 18,000 attendees this October in Nusa Dua, Bali. The largest event held by the Indonesian government will be attended by Governors of Central Banks and Finance Ministers from 189 countries.

In addition, global CEOs, private sectors, investors, NGOs, academicians, parliamentary members and media will take part in the world-class event.

The Indonesian government targets the Annual Meetings 2018 will increase revenue in tourism sector, add local economic activities, create new jobs and promote investment and national trade.

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