ID :
53557
Thu, 04/02/2009 - 22:54
Auther :
Shortlink :
https://www.oananews.org//node/53557
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RI PROPOSES CONCENSUS BETWEEN REGULATIOND AND STIMULUS
Jakarta, April 2 (ANTARA) - Indonesia has proposed a concensus between improving financial system regulation and extension of fiscal stimulus as a means to free itself from the current global financial crisis.
Indonesian president Susilo Bambang Yudhoyono said at a press conference at Hotel JW Marriott in London on Wednesday (local time) the country's suggestion was given to settle a debate between the European Union and the US at the G20 summit.
"Indonesia thinks we must show unity, no need to argue and could find a concensus betweeen regulation and stimulus," he said.
He said he would convey the country's stance in the sessions of the G20 summit.
He said that regulations and stimulus were all needed to restore the economy and the market.
However, he said, if regulations were not put in order the world's economy could possibly meet problems again in the future.
"If regulations are not put in order restoration will not stand long. Banking failures will happen again and possibly create new problems," he said.
He said he hoped the G20 summit could build a consensus to get out of the crisis. "It will be very bad if we, leaders, cannot agree, moreover are involved in a strong argument. It will give a wrong signal. We will be considered unable to take global action or coordinated action just because of diffierences in views and priorities," he said.
He said he would also convey the country's stance that monetary policy and stimulus package must be given in the short term or for the next two years to assure economic movement.
"Indonesia underlines the importance of a coordinated action to overcome the crisis," he said.
He said Indonesia would also express its support to reform of international financial institutions and plan to give additional fund to them.
He said the G20 even had already accomodated the country's view conveyed at the G20 in Washington in November 2008 on the need to set up a global expenditure support fund.
"In principle, our proposal is accepted, accomodated. But in the G20 now discussions are progressing to enter into technical areas and we hope a concensus will be reached with regard to the importance of support fund for countries in need," he said.
Indonesia, he said, hoped the fund could become one of the pillars for dealing with the crisis particularly for developing countries that had not much capital.
The G20 summit was opened at 5.50 pm local time or 11.50 pm in Jakarta, in a reception hosted by Queen Elizabeth II at the Buckingham Palace.
Indonesian president Susilo Bambang Yudhoyono said at a press conference at Hotel JW Marriott in London on Wednesday (local time) the country's suggestion was given to settle a debate between the European Union and the US at the G20 summit.
"Indonesia thinks we must show unity, no need to argue and could find a concensus betweeen regulation and stimulus," he said.
He said he would convey the country's stance in the sessions of the G20 summit.
He said that regulations and stimulus were all needed to restore the economy and the market.
However, he said, if regulations were not put in order the world's economy could possibly meet problems again in the future.
"If regulations are not put in order restoration will not stand long. Banking failures will happen again and possibly create new problems," he said.
He said he hoped the G20 summit could build a consensus to get out of the crisis. "It will be very bad if we, leaders, cannot agree, moreover are involved in a strong argument. It will give a wrong signal. We will be considered unable to take global action or coordinated action just because of diffierences in views and priorities," he said.
He said he would also convey the country's stance that monetary policy and stimulus package must be given in the short term or for the next two years to assure economic movement.
"Indonesia underlines the importance of a coordinated action to overcome the crisis," he said.
He said Indonesia would also express its support to reform of international financial institutions and plan to give additional fund to them.
He said the G20 even had already accomodated the country's view conveyed at the G20 in Washington in November 2008 on the need to set up a global expenditure support fund.
"In principle, our proposal is accepted, accomodated. But in the G20 now discussions are progressing to enter into technical areas and we hope a concensus will be reached with regard to the importance of support fund for countries in need," he said.
Indonesia, he said, hoped the fund could become one of the pillars for dealing with the crisis particularly for developing countries that had not much capital.
The G20 summit was opened at 5.50 pm local time or 11.50 pm in Jakarta, in a reception hosted by Queen Elizabeth II at the Buckingham Palace.
