KUALA LUMPUR: Malaysia discussed strengthening the financial industry and the global economy with various finance ministers who attended the spring meetings of the World Bank/International Monetary Fund (IMF) in the United States, according to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.(pic)
He has been invited to participate in 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 are jointly chaired by Indonesia and Finland this year.
Tengku Zafrul also met Indonesia’s Finance Minister Ibu Sri Mulyani Indrawati and Singapore’s Finance Minister Lawrence Wong, who was also invited to attend the meetings by Indonesia as the joint chair of the G20, Bernama reported.
“I managed to discuss with Ibu Sri Mulyani and Wong on issues such as the sustainable development of the financial industry, global economic situation, the pandemic as well as post-pandemic preparations,” he said.
Discussions by the G20 FMCBG encompassed a review of the global economy, including the impact of geopolitics which has resulted in rising inflation due to a spike in commodity prices, he added.
The meetings 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, including the need to set up a new financial mechanism.
The G20 FMCBG also discussed strengthening the resilience of global finance and a global financial safety network, and the need to prepare a framework 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,” Tengku Zafrul pointed out.
The G20 summit, to be chaired by Indonesia, will be held in November in Bali, Indonesia.