launch
Spending for Development: Making the Most of Indonesia's New Opportunities - 10
years after Beginning of Financial Crisis
In July 1997 the East Asia Financial Crisis started, hitting
Indonesia's economy worse than any other in the region. The country underwent a
sharp economic contraction, pronounced depreciation and inflation rates, and
severe political turmoil. After a decade of successful macroeconomic management,
radical decentralization, and various bold policy decisions, Indonesia is
finally in a position of fiscal strength. Since 2006, Indonesia has freed up
"fiscal space" of about US$15 billion. Equivalent to around 7 percent of GDP,
this is the largest increase in additional fiscal resources since the 1973-74
oil revenue wind fall, providing a tremendous window of opportunity for
Indonesia to upgrade its public services. If Indonesia is to stay competitive,
then it is crucial that some of these precious additional resources are
channeled towards higher quality and more accessible secondary and tertiary
education, an improved and more equitable health system, and better
infrastructure provision.
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Tuesday, July 10, 2007
12:00 pm
World Bank J Building, J1-050
Followed by a light lunch reception
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"This book is the first Public Expenditure Review to cover national and
sub-national spending in Indonesia. It sheds light on the impact of the
country's transition towards decentralization and the new ways in which public
resources are now administered and allocated."
"Indonesia has now entered a new era in which more fiscal resources are
available for the first time since before the economic crisis. We are now facing
problems of success and we need to use the new opportunities to upgrade our
infrastructure, education and health systems. While there are no easy answers,
this report provides valuable assistance in assessing the best ways forward if
Indonesia is to achieve its national development goals in the next few years."
Prof Ali Wardhana ─ Former Minister of Finance and Coordinating Minister for
Economics, Finance, Industry and Development
Chair
Jim Adams
Vice President of the East Asia and Pacific Region, World Bank
In the capacity as Vice President, Mr. Adams has overall responsibility for
World Bank operations in one of the world's most dynamic regions, covering more
than a dozen states ranging from the world's most populous country --China-- to
the smallest and most remote Pacific Islands states.
Presentation by Author
Wolfgang Fengler
Senior Economist in the Indonesia Resident Mission, World Bank and main author
of "Spending for Development"
Mr. Fengeler has been leading the World Bank's public finance and
decentralization program and has particularly engaged in the Aceh reconstruction
program. He and has team have also produced several regional expenditure
reviews, led the Aceh and Yogyakarta reconstruction analysis, including the
flagship "Aceh and Nias one year after the tsunami". He has also been the task
manager past and current Development Policy Loans.
Panelists
Homi Kharas
Visiting fellow at the Brookings Institution
Mr. Kharas is a distinguished authority in development economics and he served
as the Chief Economist of the East Asia and Pacific Region of the World Bank
from 2001-2007. He has published widely in areas such as external debt and
developing countries, foreign borrowing and fiscal risks and contingent
liabilities. He also edited (togetehr with indermit Gill) the recent and
well-acclaimed book "An East Asian Renaissance: Ideas for Economic Growth".
Vikram Nehru
Director of the Economic Policy and Debt Department, Poverty Reduction &
Economic Management Network, World Bank
Mr. Nehru was the former Lead Economist for the World Bank's Indonesia Program
during and after the East Asian Crisis (1997-2002). He has led most of crisis
and post-crisis economic dialogue for the World Bank in Indonesia and published
among others: "Indonesia: Imperative for Reform", "Indonesia: Seizing the
Opportunity", "Indonesia: From Crisis to Opportunity", "Indonesia in Crisis".
He has also had extensive research experience on issues of economic growth,
capital stock measurement, financial sector policy, industrial and trade policy,
and on the implications of global trends and developments on the economic
prospects of developing countries.
About the InfoShop
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issues.
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