IMF-WB annual meetings in Bali to trigger money in circulation worth Rp4 trillion

Yogyakarta (Antaranews Bali) - Bank Indonesia (BI), the country`s central bank, has estimated that the 2018 IMF-World Bank Annual Meetings to be held next October in Bali, to trigger money in circulation amounting up to Rp4 trillion.

"This will boost the economy of Bali strongly," Causa Iman Karana, head of the BI representative office in Bali, said here, Sunday.

The large amount of money will be spent on paying accommodation, transportation, telecommunication charges, and buying food as well as beverages, among others things.

Between 15 thousand and 20 thousand people from 189 countries are expected to participate in the annual meetings of the IMF and the World Bank.

The participants will include central bank leaders from various countries, financial practitioners, economists, economic policy makers, and country delegates.

The Indonesian Government has built several infrastructure projects, including an underpass in the intersection near I Gusti Ngurah Rai International Airport, to support the implementation of the large gathering.

An apron at the I Gusti Ngurah Rai International Airport has been expanded to enable the apron to provide larger parking area for airplanes.

During the meetings, activity at Ngurah Rai Airport is estimated to increase to 35 takeoffs or landings per hour from the current 28, with a daily capacity of up to 300 movements.

A tourism port is also being built in Benoa harbor in Denpasar.

The central bank has also predicted the economic growth in Bali to reach 6 to 6.4 percent, exceeding 5.59 percent of the growth in 2017.

The Indonesian Government has allocated funds worth around Rp868 billion particularly for the infrastructure projects to support the implementation of the IMF-World Bank Annual Meetings.

The IMF and the World Bank hold annual meetings once every three years outside the IMF and World Bank`s headquarters in Washington D.C. (ed)

reported by Dewa Wiguna  (f001)