World Bank-IMF meeting: Tengku Zafrul discusses strengthening financial industry and regional economic stability
KUALA LUMPUR - Discussions on strengthening the financial industry and the global economy were carried out between Malaysia and other Finance Ministers who were present at the Spring Meetings of the World Bank and IMF in the United States this week.
Finance Minister Tengku Datuk Seri Zafrul Aziz, who is currently there attending the event, said this yesterday (April 23) according to Bernama.
He has been invited to participate in the discussions held in conjunction with the second meeting of G20 Finance Ministers and Central Bank governors (G20 FMCBG).
The Spring Meetings of the World Bank/IMF is jointly chaired by Indonesia and Finland this year.
He also met with Indonesia’s Finance Minister Ibu Sri Mulyani Indrawati and Singapore’s Finance Minister Lawrence Wong.
“I managed to discuss with Ibu Sri Mulyani and Wong issues such as the sustainable development of the financial industry, the global economic situation, pandemic and post-pandemic preparations,” he said.
Tengku Zafrul said discussions by the G20 FMCBG encompassed a review of the global economy, including the impact of geopolitics that has resulted in rising inflation due to a spike in commodity prices.
The meetings, he said, also touched on exit plans for the pandemic as well as policies to deal with the long-term impact of Covid-19 and preparations for future pandemics such as the need to set up a new financial mechanism.
He added that the G20 FMCBG also discussed strengthening the resilience of global finance and a global financial safety network as well as the need to prepare a framework to work towards a financial sustainability agenda.
“Overall, I am proud to have represented Malaysia and Keluarga Malaysia in bringing the country to a better future. Amid this uncertainty, I believe that all countries are more open towards multi-faceted cooperation for the benefit of universal human wellbeing,” he said.
The G20 summit, chaired by Indonesia, will be held in November in Bali, Indonesia.
