11 October 2018
Media Release - #2018026, 2018

IMF, World Bank and G20 meetings in Indonesia

From 11 to 13 October, I will travel to Bali, Indonesia, to attend the Annual Meetings of the World Bank and International Monetary Fund (IMF) as well as the G20 Finance Ministers and Central Bank Governors meeting.

This is the first time the Annual Meetings have been held in Indonesia and the first time they have been held in an emerging Asian economy in the 20 years since the Asian Financial Crisis in 1997-98.

I will hold discussions with Australia’s regional neighbours, significant trade and investment partners, G7 economies and leaders of international financial institutions.

I will also participate in ministerial meetings of the IMF, World Bank and G20 in conjunction with Central Bank Governors, covering issues such as resilient international financial architecture, financing infrastructure development and risks to the global economic outlook.

Australia has a seat at the top table when it comes to global economic matters. I will ensure Australia’s interests are protected and our successes recognised, while reaffirming our commitment an open, free, rules-based trading system.

Our strong, growing economy is an example of the benefits of free trade and investment. Australia has enjoyed 27 years of consecutive economic growth and we are one of only 10 countries in the world to have a triple-A credit rating from all three major ratings agencies.

Free trade equals more jobs, more investment and higher economic growth. I will send the clear message that this has been the lesson for the Australian economy in the past and that this will guide us in the future.

Driving a strong and relevant agenda through international institutions is essential for Australia to ensure they remain capable of addressing new global challenges.

I look forward to representing Australia’s interests in this forum and emphasising the need for global cooperation.

I will also lay a wreath at the Bali Bombing Memorial and pay my respects to the victims of the recent natural disasters in Indonesia including the tsunami in Sulawesi and earthquakes in Lombok.