Home >> Daily News >> Indonesia News >> Capital Markets >> Indonesia sees benefits from new G20 framework
||27 September 2009
Indonesia sees benefits from new G20 framework
Indonesia is upbeat the G20 Summit, which has produced a number of breakthroughs to maintain the recovery of the global economy and prevent further crisis, will strengthen its resilience in the face of the economic downturn, the Jakarta Post reported.
Indonesian President Susilo Bambang Yudhoyono told a press briefing after the summit, which concluded in Pittsburgh, US, Friday, that Indonesia would benefit from the tighter international financial standards, which will reduce the negative impacts of the global financial system on the country’s domestic economy.
In their statement, the G20 leaders agreed “to launch a framework that lays out the policies and the way we act together to generate strong, sustainable and balanced global growth, and to make sure our regulatory system for banks and other financial firms rein in the excesses that led to the crisis.”
The G20 Summit accepted Indonesia’s proposal to apply countermeasures for countries that refuse to cooperate in returning ill-gotten money placed or laundered there.
The acceptance means the G20 will help Indonesia’s effort to recover trillions of dollars of assets moved overseas by corruption convicts or suspects.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below