Indonesia’s Retno Marsudi: Economic Recovery Unlikely until Pandemic Ends

JAKARTA, KOMPAS.com – Minister Retno Marsudi affirms that the global economy, including Indonesia’s, cannot recover until the coronavirus pandemic is officially over.

Speaking at the 5th Jakarta Food Security Summit on Indonesia’s Export Strategy During and Post-Pandemic, Indonesia’s Foreign Minister explained the reasons behind the country’s continued diplomatic efforts to obtain access to a Covid-19 vaccine.

“The economy cannot be revived until we can defeat the coronavirus pandemic. For this reason, our diplomatic efforts from the beginning have been focused on demanding equal access to a Covid-19 vaccine that is safe and affordable for all nations.”

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Retno Marsudi outlined how the coronavirus pandemic has additionally triggered a health crisis on top of the global economic downfall.

The International Monetary Fund predicts that the global economy in 2020 will reach minus 4 percent.

Highlighting the deadly effects of the novel virus, Retno said that there are 56 million Covid-19 confirmed patients as well as 1.3 million Covid-19 casualties since the start of the pandemic.

There are three key measures that Indonesia can undertake to support the recovery of the global economy in which the first is to focus on producing a Covid-19 vaccine and establishing an effective public health defense line.

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“Over the past few days, we have seen some positive news coming from Phase 3 clinical trials of coronavirus vaccines. The hope is that the world will attain a vaccine that is safe and effective in keeping with numerous assertions made by Indonesian President Joko Widodo."

"Our priority is to uphold safety and the effectiveness of a coronavirus vaccine that will be used.”

The second measure Indonesia can take is to build trust with other nations and push for trade cooperation as evidenced during the 37th ASEAN Summit on November 12.

The third measure is to maintain stability between countries in the field of security.

Retno Marsudi asserts that Indonesia does not want to be caught in the middle of a rivalry between nations.

“ASEAN must not be trapped in any rivalry or centrality. ASEAN must remain unified to prevent being coerced into choosing sides, and ASEAN Centrality must be maintained.”

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Indonesia’s Foreign Minister said that several partnerships had arisen from the 37th ASEAN Summit regarding Covid-19 mitigation efforts.

The Covid-19 ASEAN Emergency Response Fund was one success story from the November 12th meeting in which $10 million or Rp 141 billion has been collected from numerous state donations.

“The Covid-19 ASEAN Emergency Response Fund is a sign of commitment from Japan, South Korea, China, Singapore, Australia, the UK, and others to collectively raise $10 million.”

(Writer: Nicholas Ryan Aditya | Editor: Dani Prabowo)

Source: https://nasional.kompas.com/read/2020/11/19/13283181/menlu-ekonomi-tak-akan-bangkit-jika-pandemi-belum-dikalahkan?page=all#page2