Indonesia: Central Bank holds meeting with the Fed in Bali

(AGI) - Jakarta, Aug 1 - Indonesia was chosen to host a joint seminar organized by Bank of Indonesia and The Federal Reserve Bank of New York. Located at the Sofitel Hotel Nusa Dua Bali, the officials on both the monetary authorities will conduct discussions in the middle of the Executive' Meeting of Asia Pacific Central Banks (EMEAP) Governors' Meeting in 2016. The theme of the meeting is the management of the stability and growth amid the economic divergence and monetary policies taken by the countries of the world's major economies. Executive Director of the International Department at BI Aida Budiman said that Indonesia has a special mission in the meeting which will be chaired by the Governor BI Agus Martowardojo. One of the missions is to call for clarity related to the position of Indonesia as an emerging market in the eyes of policy makers in advanced economies such as the US, Japan and China. "So far, there are issues of economic growth and monetary divergence, not only regional but also include those coming from the United States, Japan, and the impact on emerging markets," Aida said. Aida also said that the EMEAP meeting aims to strengthen cooperation among its members, because the seminar will not only be attended by the President of the Federal Reserve Bank of New York William C.Dudley, but also the Central Bank Governors of the countries that currently the economy in the spotlight, such as the Reserve Bank of India Governor Raghuram Rajan. India and Indonesia are considered as emerging markets whose economies depend on all the measures taken by developed countries. This position which is often made noise from emerging market countries is less audible in the dynamic global economy. In fact, today the world is looking for global growth engine of the new economy. As the country which is still experiencing positive economic growth, Indonesia could potentially have a role to prop up the world economy continues to revolve. "BI?s particular mission is finding a way out of the east and west. Governor of BI is consistent in international meetings such as the IMF and the G20 concerns to emerging market. If the emerging market is not helped so economic growth will be more severe," Aida said. The EMEAP which established in 1991, is a cooperation between central banks and monetary authorities in the East Asia and Pacific. The aim is to strengthen cooperation among its members. The EMEAP consists of 11 central banks include Bank Indonesia, the Reserve Bank of Australia, People's Bank of China, Hong Kong Monetary Authority, Bank of Japan, the Bank of Korea, Bank Negara Malaysia, Reserve Bank of New Zealand, Bangko Sentral ng Philipinas , Monetary Authority of Singapore and Bank of Thailand. (AGI) .