Indonesia Asked to Increase Shares at World Bank
    2009-07-27 11:12:13     Xinhua      Web Editor: Cao Jie
Due to its impressive economic growth amid the ongoing global crisis, the World Bank (WB) has asked Indonesia to increase its share ownership at the international donor agency, the Bisnis Indonesia reported on Monday.
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Due to its impressive economic growth amid the ongoing global crisis, the World Bank (WB) has asked Indonesia to increase its share ownership at the international donor agency, the Bisnis Indonesia reported on Monday.

WB Country Director for Indonesia Joachim von Amsberg said that Indonesia has increasing economic fundamentals that are better than other countries amid the ongoing global economic crisis at present.

WB and International Monetary Fund (IMF) were scheduled to hold a high profile meeting in Turkey from October 6 - 7 this year aimed at increasing the share ownership of member countries. Indonesia, along with BRIC (Brazil, Russia, India and China), is expected to increase their share ownership at WB since they are now recognized as influential countries in the world's economic constellation.

"The World Bank would be stronger if the great developing countries like Indonesia and BRIC increase their share ownership at the WB," Joachim said.

Indonesia has positive Gross Domestic Product (GDP) that is regarded the third fastest in the world after China and India, the WB Indonesia representative said.

Joachim said that with stable political condition, improving investment atmosphere and massive infrastructure development, Indonesian economic growth could improve up to 7 percent, or better than it was before the economic crisis in late 90s.

Indonesia is among 186 members of the World Bank. It joined the WB on April 13 1967. Its share ownership at the WB reached 1,498.1 million U.S. dollars, or equals to 0.95 percent share at the moment.

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