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OJK ATTENDS GLF UNCTAD IN GENEVA; CALLS FOR FAIRNESS IN MULTILATERAL ORDER
DEVELOPMENT

Translator

Ririe Ranggasari

Editor

Petir Garda Bhwana

July 8, 2024 | 01:17 pm


Chair of the Board of Commissioners of the Financial Services Authority (OJK)
Mahendra Siregar. (Tempo/Tony Hartawan)

TEMPO.CO, Jakarta - The Financial Services Authority or OJK said that Indonesia
continues to call for the importance of building a fair multilateral order by
strengthening developing countries in the global south to achieve sustainable
development goals. OJK Board of Commissioners chief Mahendra Siregar said
efforts to build a multilateral trading system must reflect the common interests
of developed and developing countries.

Delivering a keynote address at the Global Leaders Forum (GLF) UN Trade and
Development (UNCTAD) 60th Anniversary at the UN Office in Geneva, Switzerland,
on June 12-14, Mahendra said that the multilateral rules-based order needs to be
recalibrated to take into account the interests of developing countries.

Mahendra also highlighted the importance of sustainable financing in achieving
sustainable development. He said that sustainable financing must be based on
fiscal discipline and optimal resource allocation.

"Uncontrolled subsidies to develop new technologies that are not supported by
the market will not only distort the global economy but will also contribute to
inflation and undermine long-term efforts towards a greener economy," Mahendra
said on Saturday, July 6.

The GLF-UNCTAD meeting was held to commemorate the 60th anniversary of UNCTAD,
the UN body that focuses on promoting the interests of developing countries in
global trade. The meeting was opened by UN Secretary-General António Guterres
and attended by several heads of state and government, including the Presidents
of Switzerland, Madagascar, Comoros, the Prime Minister of Timor-Leste and the
Vice President of Costa Rica, as well as ministers and delegates from 152
countries.

ADIL AL HASAN

Editor's Choice: OJK Blocks 5,000 Bank Accounts Related to Online Gambling as
Jokowi Readies Task Force

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