Indonesia to Gain from IMF-World Bank Annual Meeting in Bali: Luhut

Jakarta (Antara Bali) - Coordinating Minister for Maritime Affairs Luhut B. Panjaitan said the annual meeting of the International Monetary Fund (IMF) and the World Bank 2018 in Bali would greatly benefit Indonesia as the host country.

"There is a lot to gain especially in economy from the world biggest economic and finance meeting," Luhut said after explaining progress in the preparation of the meeting to the leaders of the House of Representative here on Thursday.

The meeting is expected to have an economic value of US$115 million with around 15,000 delegates attending mainly from their stay at hotels during the seven day meeting, he said.

The government has approved a budget of Rp810 billion for the meeting including Rp200 billion for the procurement of computer sets and supporting equipment.

"The computers would be given as grants to schools in the regions (after the meeting)," Luhut, who is chairman of the National Committee for the IMF-World Bank Annual Meeting next year, said.

On the same occasion, Finance Minister said the government and the House of Representatives agreed that Indonesia should seek to be a good host.

Sri Mulyani also explained to the lawmakers details to be discussed at the meeting including development issue in general and Indonesian interest in explaining governments development programs.

"We would also discuss the funds needed, the aspect of efficiency and the interest of the people in general ," she said.

She also said the direct benefit for the country from the meeting is the spending by the participants of around 15,000 delegates.

"IMF and the World Bank also provides a budget for the air tickets for 1,200 its staff to Indonesia. They will stay for seven days at hotels in Bali in October, which is a low season ," the minister said.

In addition there is indirect benefit that is improvement of infrastructure which is not only to facilitate the IMF-World Bank meeting but also for the public.

The organizing committee will also arrange to offer five tourist destinations that would persuade the participants to stay longer in Indonesia.

"The House leads and the House Budget Body understand whet the government offers . The cost for meeting would be derived from the 2018 budget to be sanctioned in the next two weeks ," Sri Mulyani said.(*)