IBS Holds Policy Synergy Webinar for National Economic Recovery
JAKARTA – The Central Bank and other institutions in the Financial System Stability Committee (KKSK) have taken policy steps to reduce the adverse effects of the economic crisis due to the Covid pandemic -19 into the Financial System. This is related to the increasingly widespread impact of Covid-19, which affects all aspects of human activities, including economic activity.
World economic institutions, such as the IMF and World Bank, predict that the world economy will go into a recession, which could lead to a crisis in the economy and financial markets. Including Indonesia. IMF and Bloomberg Median project Indonesia’s economy to grow by 0.5%, while ADB is projecting a higher rate of 2.5%. World Bank projects that Indonesia’s economy will stagnate, with the worst-best scenario ranging from -0.4% to 2.3% .
To find out the response to Bank Indonesia’s policy in handling the Covid-19 Pandemic, the Indonesian Banking School (IBS) College of Economics (STIE) held a national webinar by presenting the Governor of Bank Indonesia Perrry Warjiyo SE., MSc., PhD, as a formulator and implementer of system policies payment, which will play a major role in maintaining the stability of Indonesia’s financial system and economy, Friday, 24 July 2020.
“The Covid-19 pandemic has resulted in a sharp decline in economic growth and could potentially lead to a decline in the stability of Indonesia’s financial system. anticipatory steps in the form of Payment System Policies to maintain the stability of the Financial System and the Indonesian economy, which are expected to be presented in this webinar, “said the Chairman of IBS, Dr. Kusumaningtuti Sandriharmy Soetiono, SH, LL.M.
The webinar was moderated by Dr. Rozi A. Sabil, SE, SPd., MBA, Fin, Director of the Master of Management Postgraduate Program at STIE Indonesia Banking School. The IBS academic community hopes that all webinar participants will get deep first-hand insights about how the policy is formulated and implemented, as a precautionary step to reduce the impact of the Covid 19 Pandemic and maintain macroeconomic and financial system stability.
The webinar will discuss, in addition to the Payment System Policy, Bank Indonesia has also adopted a Quantitative Easing (QE) policy which has made our economy relatively stable in terms of inflation, Balance of Payment, Foreign Exchange Reserves, and economic growth from the consumption side. The presentation on the implementation of this policy is certainly a very valuable learning material for the participants of this Webinar.