A s the host of the G20 Finance Ministers and Central Bank Governors' meeting, Bank Indonesia played a critical role in facilitating discussions and ensuring that concrete agreements were reached. The meeting was held virtually due to the ongoing COVID-19 pandemic and focused on pressing global economic issues, including the pandemic, climate change, and digitalisation. G20 Officials Take Steps to Address Global Economic Challenges During the meeting, the participants took several concrete actions to address these challenges. Firstly, they pledged to continue supporting the global economic recovery from the COVID-19 pandemic by maintaining supportive fiscal and monetary policies while ensuring financial stability (G20, 2022; Bank Indonesia, 2022). Secondly, the participants recognised the importance of addressing climate change. They agreed to work towards a more sustainable future by mobilising finance for green projects, promoting sustainable finance, and increasing transparency ...
I n Indonesia, broad money or money supply measures financial liquidity. The money supply is the total currency and bank deposits circulating within an economy. It is a crucial determinant of an economy's health, affecting inflation, employment, and economic growth. (Mahatir et al., 2020; Bank Indonesia, 2023). This blog post will discuss the significance of positive growth in the money supply. December 2022 Report According to the December 2022 report , Indonesia's money supply increased by 8.1% year-on-year (YoY). This growth was primarily driven by broad money (M2) growth, which increased by 8.2% YoY. On the other hand, narrow money (M1) grew by 6.8% YoY. The report also highlighted the growth of quasi-money, which increased by 11.2% YoY. Quasi money includes savings deposits, time deposits, and certificates of deposit, among others. This growth is a positive sign for the economy, as it indicates that people are saving more and contributing to the growth of the banking sect...