IMF-INDONESIA/LAGARDE Indonesia is better prepared to face global volatility-IMF head

Record ID: 140497

  • Title: IMF-INDONESIA/LAGARDE Indonesia is better prepared to face global volatility-IMF head
  • Date: 1st September 2015
  • Summary: JAKARTA, INDONESIA (SEPTEMBER 1, 2015) (REUTERS) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** EXTERIOR OF PRESIDENTIAL PALACE AT JAKARTA INDONESIA STATE SYMBOL ON PALACE WALL INTERNATIONAL MONETARY FUND (IMF) MANAGING DIRECTOR, CHRISTINE LAGARDE, ARRIVES AT PRESIDENTIAL PALACE CAMERAMAN FILMING LAGARDE AT WAITING ROOM LAGARDE TALKING WITH HER STAFF JOURNALISTS ON STANDBY INDONESIA PRESIDENT, JOKO WIDODO, GREETING LAGARDE AND HEADING TO BILATERAL ROOM JOURNALISTS STANDING BY FOR JOINT NEWS CONFERENCE WIDODO AND LAGARDE WALKING TO JOINT NEWS CONFERENCE ROOM WIDODO GREETING JOURNALISTS (SOUNDBITE) (English) INTERNATIONAL MONETARY FUND MANAGING DIRECTOR, CHRISTINE LAGARDE, SAYING: "We at the IMF are convinced that Indonesia is much better prepared than ever before to actually face those headwinds." PHOTOGRAPHERS TAKING PICTURES LAGARDE AND WIDODO SHAKING HANDS/LEAVING THE ROOM EXTERIOR OF ECONOMY FACULTY OF INDONESIA UNIVERSITY FOR MAGISTERIAL MANAGEMENT PROGRAM CAMERAMAN FILMING LAGARDE AND FORMER INDONESIA MINISTER TOURISM AND CREATIVE ECONOMY MARIE PANGESTU ENTERING STAGE VARIOUS OF LAGARDE AND PANGESTU ON STAGE (SOUNDBITE) (English) INTERNATIONAL MONETARY FUND MANAGING DIRECTOR, CHRISTINE LAGARDE, SAYING: "The IMF expects the global growth to remain moderate and likely weaker than we had anticipated." LAGARDE SPEAKING (SOUNDBITE) (English) INTERNATIONAL MONETARY FUND MANAGING DIRECTOR, CHRISTINE LAGARDE, SAYING: "The transition to a more market-based economy and the unwinding of risks built up in recent years is complex and could very well be somehow bumpy." LAGARDE SPEAKING (SOUNDBITE) (English) INTERNATIONAL MONETARY FUND MANAGING DIRECTOR, CHRISTINE LAGARDE, SAYING: "We believe that the authorities have the policy tools and financial buffers to actually manage this transition." VARIOUS OF AUDIENCE
  • Embargoed: 16th September 2015 13:00
  • Keywords:
  • Location: Indonesia
  • Country: Indonesia
  • Topics: General
  • Reuters ID: LVA3S5QYTZCGE6SMO5ODCH6DELG7
  • Aspect Ratio: 16:9
  • Story Text: Indonesia has never been more prepared to handle global economic uncertainty, stemming from concerns like China's slowdown and depressed commodity prices, the head of the International Monetary Fund said on Tuesday (September 1, 2015).
    IMF Managing Director, Christine Lagarde at a joint press briefing with Indonesia President Joko Widodo told reporters that Indonesia was well-prepared to withstand possible economic turmoil.
    "We at the IMF are convinced that Indonesia is much better prepared than ever before to actually face those headwinds," Lagarde said.
    Lagarde earlier gave a speech on global economic growth at Indonesia University.
    She warned emerging economies like Indonesia to "be vigilant for spillovers" from China's slowdown, tighter global financial conditions, and the prospects of a U.S. interest rate hike.
    "The IMF expects the global growth to remain moderate and likely weaker than we had anticipated," she said.
    The IMF in July forecast global growth at 3.3 percent this year, slightly below last year's 3.4 percent.
    Lagarde said China's economy was slowing, although not sharply or unexpectedly, as it adjusts to a new growth model.
    "The transition to a more market-based economy and the unwinding of risks built up in recent years is complex and could very well be somehow bumpy," she added.
    She said that Southeast Asia's largest economy had the "right tools to actually react" to the global volatility, as it had sound public finances and a relatively small deficit.
    "We believe that the authorities have the policy tools and financial buffers to actually manage this transition," she said.
    Lagarde will give keynote speech on Wednesday (September 2) in a annual conference with Indonesia Central Bank.
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