OJK Urged to Prevent Economic Impacts of COVID-19 Pandemic

Antara - 20 January 2022 19:10 WIB
OJK Urged to Prevent Economic Impacts of COVID-19 Pandemic
The global economy still reels from several uncertainties.
Jakarta: President Joko Widodo (Jokowi) has accentuated that the policy and supervision instruments of the Financial Services Authority (OJK) should prevent the widespread economic and financial impacts of the COVID-19 pandemic.

Jokowi has also requested that all tools of the OJK in supervising and policing should help micro, small, and medium enterprises (MSMEs) and other informal sectors to not only survive but also grow in the pandemic.
"(The OJK) needs to have a specific strategy that is more detailed, effective, and careful though not disrupt the (government's) efforts of recovery. Hence, the policies and supervisions issued by the OJK need to stop the pervasive impact of the COVID-19 pandemic," the president remarked during the online 2022 financial services industry's annual meeting and the launch of green taxonomy here on Thursday.

The president deemed it necessary to have in place a more specific strategy for handling or mitigating the wide-ranging impacts of the pandemic, as some sectors have suffered lingering strikes.

Moreover, during the pandemic, the global supply chain was disrupted that led to an increase in the global commodity prices and global inflation, he added.

Jokowi highlighted the improvement in economic performance in the real sector. However, all parties are urged to remain vigilant to the developments in COVID-19, especially transmission of the new variant, Omicron.

On the other hand, the global economy still reels from several uncertainties, such as scarcities in food, energy resources, and containers in some countries.

Problems, such as inflation in the production prices, should be addressed, as Indonesia is also impacted by them, according to Jokowi.

The event of the online 2022 financial services industry annual meeting and the launch of green taxonomy was conducted in hybrid mode, both online and offline. Jokowi gave directives remotely from the Bogor Presidential Palace in West Java.

The meeting was attended by OJK's Chairman of Commissioners Board Wimboh Santoso, the ministers of Jokowi's cabinet, Bank Indonesia Governor Perry Warjiyo, and several financial services industry players.


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