• Sun. Apr 21st, 2024

Addressing Policy Uncertainty: The World Bank’s Call for Clearer Business Policies in Times of Limited Fiscal and Monetary Measures

BySamantha Nguyen

Apr 4, 2024
World Bank calls on new governments to deliver policy stability for Economy

The World Bank has advised countries, including Indonesia, to improve policy clarity for businesses as a sustainable method to drive economic growth. This is especially important in the midst of prolonged global uncertainty and limited fiscal and monetary measures that many countries are facing. Manuela Ferro, the Vice President of the World Bank East Asia and Pacific, emphasized the importance of addressing policy uncertainty, particularly as many countries will be experiencing changes in leadership this year.

Ferro highlighted the challenges in providing fiscal or monetary stimulus to sustain growth over the long term. She also underlined the significance of businesses having clarity about the investment regime in which they operate. Ferro stressed that implementing competition-enhancing policies would attract more investors into economic activities.

The upcoming elections in many countries, including Indonesia, will have major implications for policy direction and economic growth. In Indonesia, Prabowo Subianto was recently announced as the winner of the General Elections Commission’s polls, set to be sworn in this October along with his running mate Gibran Rakabuming Raka, Joko “Jokowi” Widodo’s eldest son. The IMF has issued warnings about the need for countries to address escalating fiscal risks, including tight financing conditions and growing concerns about debt vulnerabilities. It is crucial for countries to proactively manage these risks to ensure sustainable economic growth.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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