Tuesday, 03 March, 2009 | 14:31 WIB
TEMPO Interactive, Jakarta: Finance Minister Sri Mulyani has said that capital flows to developing countries have decreased to less than one-third of the original amount of more than US$600 billion.
“Now there is only US$180 billion left,” said Sri Mulyani in Jakarta yesterday (2/3).
Therefore, there will be funding shortage in developing countries.
Currently, representatives of 20 G-20 member countries are gathering in Jakarta to discuss an international response to this situation.
They will also discuss about the role of international funding agencies like the World Bank, the ADB and the IDB.
The forum will try to find solution to the decreasing capital flows.
Sri explained that President Yudhoyono's idea about a global expenditure fund for Moslem countries, which was announced at the World Islamic Economic Forum, could be a solution for developing countries to manage the global economy crisis.
Moslem countries that are rich with oil resources are expected to help poor Moslem countries.
GUNANTO ES
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