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May 30, 2023
The President of Indonesia, Joko Widodo, has just said that the Indonesian economy has the potential to grow by 5.1 percent in 2023. In addition, growth in 2024 will also reach 5 percent. The IMF also considers that the Indonesian economy is much more stable.
Previously, President Joko Widodo held a meeting with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva. During the meeting, she assessed that Indonesia's economic condition was quite good and stable.
Especially amid a world economic situation that is experiencing uncertainty after uncertainty. This uncertainty also causes a large number of countries' debts at the global level to the IMF. The IMF just released the data, and Argentina topped the list.
The IMF's Managing Director considers Indonesia a vital and significant role during the current world conditions. The IMF assesses that Indonesia has the potential to face many world challenges because it can establish relationships and communicate with all parties.
By looking at the projections of Bank Indonesia and President Joko Widodo on economic development, which is expected to grow above 5%, the IMF invites Indonesia to assist other developing countries.
"Indonesia can talk to all countries, all parties, especially amid many economic challenges like today. The global level requires a role like that played by Indonesia," said the Managing Director of the IMF.
This should be a good capital for Indonesia's economic growth. Many predict Indonesia will receive more investors, especially after successfully running the G20 presidency in 2022 and holding the 42nd ASEAN Summit.
Apart from discussing the fate of Indonesia's economy, the IMF has just released data on countries with the highest total debt. Until now, the IMF noted that there are still 94 countries that have obligations. Luckily, Indonesia is not one of the ten countries with the most debt.
Indeed, last year, the IMF disbursed bailout funds in an amount that reached 106.2 trillion Rupiah (USD 7.15 billion) to 15 countries. But the official website of the International Monetary Fund mentions that the prospects for global growth are expected to be better.
Kenya is the 10th country in total debt, with a total of USD 1.7 billion, adding new debt, which reached USD 1 Billion recently. Furthermore, Nigeria is also experiencing significant economic problems and has a debt of SD 2.4 billion to the IMF.
South Africa, which is trying to improve the quality of its economy, has a debt of USD 3.05 billion to the IMF. The IMF recently visited South Africa to discuss economic affairs with relevant authorities and partners. This aims to create financial stability.
Angola is in 7th place with a total of 3.2 billion USD, followed by Colombia with 3.7 billion. This country does have a long history with the IMF, and this international monetary agency has a significant role in determining economic policy in Colombia.
Pakistan has a total debt of USD 5.7 billion. While in 4th place is Ecuador, which until now has a debt of 6.09 billion. The IMF program has also repeatedly tried by Ecuador to complete the loan program, but not all of them have yielded the desired results.
Ukraine is the third country with a debt of USD 7.6 billion. There has been no further increase since entering early 2023. Ukraine has used this debt a lot to deal with the effects of the war.
In the data released by the IMF, second place is Egypt, with a total debt of USD 13.5 billion. And as of December 30, 2022, Argentina has the most comprehensive debt. Argentina's economic difficulties have made the total debt reach 32.2 Billion USD.
The IMF has just released the latest data regarding the ten countries with the most total debt. Argentina is said to have the highest total debt. But regarding the Indonesian economy, the IMF considers it to have excellent growth potential, and Indonesia is safe.
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