Global Financial Architecture Should be Totally Rearranged

Achmad Zulfikar Fazli    •    16 November 2015 18:37 WIB
Global Financial Architecture Should be Totally Rearranged
President Joko Widodo (Photo:MI/Panca Syurkani), Jakarta: President Joko Widodo affirmed that the global financial architecture should be rearranged totally. Moreover, the main problem faced by the world economy is the shrinking US dollar liquidity in almost every developing countries or emerging markets in the world.
Aside from that, Jokowi assessed that since the establishment of Euro in 1999, there were no new global reserve currency. "The high dependency on US dollar has caused global distortions which now threatens the improvement of global economy," said Jokowi in his statement on Monday (11/16/2015).
Therefore, the leader of the republic stated that all developing countries should soon implement fundamental economic reforms. The fundamental economic reforms, he continued, are also in need to be followed by the strong financial liquidity to avoid the fluctuations due to the interruption on liquidity. 
"Real economic reforms are needed to reestablished the market credibility. As well as taking back the investor's and market player's trust," he stated.


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