Finance Minister Sri Mulyani has said that the country’s economic recovery from the COVID-19 pandemic will depend on the fiscal stimulus package and on economic reforms brought about by the omnibus bills.While the government’s virus handling measures would remain a key determinant of economic activity, the minister said, the economy could recover from the pandemic if the stimulus succeeded in stimulating demand and encouraging production.“We want to make sure that the economy recovers by combining fiscal support with reforms to the investment climate,” Sri Mulyani said at an online seminar hosted by the Asian Development Bank (ADB). “The omnibus bill on job creation will overhaul Indonesia’s investment policy to attract investment and build confidence.” ADB president Masatsugu Asakawa said the bank was ready to assist member countries, including Indonesia, if the outbreak continued, adding that the bank had prepared $20 billion for countries to fight the pandemic.“We estimate that the economic losses from the pandemic could be as high as 8.25 percent of regional GDP in developing Asia,” he said, which would mark the first regional contraction in 60 years. “We stress that if the third wave of the pandemic hits members, the ADB stands ready to provide further assistance.”The ADB expects the Indonesian economy to shrink by 1 percent in 2020, a revision down from the ADB’s previous projection of 2.5 percent growth and one largely in line with the government’s prediction.In the forum, attended by several Asian finance ministers and central bank governors, Sri Mulyani urged stronger global cooperation to develop a COVID-19 vaccine and rebuild the global economy, saying the future of globalization was “not encouraging”.“Although we recognize that this crisis is borderless, the response at the global level is lagging behind […] We all need each other so that there will be a global solution,” she said.Japan’s central bank governor Haruhiko Kuroda said during the discussion that globalization would be sustained and supply chains would be diversified as firms adjusted to the pandemic’s disruption, adding that resorting to protectionism was not the answer and that regional financial cooperation would provide a safety net to weather future economic shocks.Topics : Indonesia’s economy shrank by 5.32 percent in the second quarter and is widely expected to enter a recession in the third quarter, the first since the 1998 Asian financial crisis, as officials spur government spending to deal with the pandemic’s economic fallout.The government has spent about 36 percent of the Rp 695.2 trillion (US$47.19 billion) stimulus package to boost economic growth, but analysts say the stimulus has been ineffective because disbursement has remained slow, even six months into the outbreak.The government hopes the omnibus bill on job creation, which is expected to be passed into law later this year by the House of Representatives, will be able to cut red tape, improve the country’s competitiveness and attract foreign investment to support economic growth and create jobs, despite significant controversies surrounding the bill.Indonesia is formulating an additional omnibus bill to develop and strengthen the country’s financial industry, said the Finance Ministry’s Fiscal Policy Agency head, Febrio Kacaribu, as reported by Reuters. The bill is expected to shape the financial industry “to be more adaptive and responsive to vast developments in technology and business practices”, he added.
Published on December 19, 2014 at 9:01 pm Contact Josh: [email protected] Comments WINTER PARK, Fla. — After making just two of her first 11 shots, Brianna Butler made her way to the Syracuse bench and head coach Quentin Hillsman followed her.As Butler subbed out for the second time in the game’s first 11 minutes, Hillsman gave his small forward an earful, yelling inches from her face. When Butler finally sat, Hillsman crouched down and continued to shout at Butler as the game continued.Within moments, Butler was in tears.“That was personal. A private moment between me and her,” Hillsman said. “I didn’t get on her at all.”Despite a bad shooting performance from its go-to player, No. 19 Syracuse (8-2) went down to the wire with No. 9 Baylor (9-1) on Friday inside Warden Arena in the opening game of the Florida Sunshine Classic in Winter Park, Florida. Syracuse held a marginal lead late in the second half until Bears guard Niya Johnson hit a jumper with 1:02 to go, the last points in a 74-72 Baylor victory.AdvertisementThis is placeholder textAfter losing 67-63 to No. 1 South Carolina on Nov. 28, Friday’s game marked another close loss for Syracuse against a national powerhouse.“I thought that for about 36 minutes, we were the better team,” Hillsman said. “For four minutes when it was time to win the game, Baylor came out and won.”It was an all-around poor night for Butler, who shot 6-of-24 from the field — 2-of-15 in the first half and 4-of-16 from 3 overall — yet finished with 16 points. Syracuse’s second-leading scorer also missed two 3s in the final minute and a half of regulation.“At any point in the game when I shoot the ball, I shoot with confidence and feel as if everything’s going in,” Butler said. “Whether it be in the beginning of the game or the end of the game, I shoot the ball the same way. They just didn’t fall today.”Over an hour before the game, Hillsman pulled aside senior guard Diamond Henderson and told her she needed to have a strong performance. She responded, combining with point guard Alexis Peterson to keep the Orange in striking distance despite Butler’s struggles. Henderson finished with 27 points, and Peterson added 16 points and five assists.The Orange held a 29-26 lead at halftime, but the lead changed hands six times before Henderson fed Peterson for a game-tying basket with 7:44 left. And with SU trailing 58-57 moments later, the senior made two free throws to put the Orange ahead.“Whether (Butler) is making shots or missing shots, we’re all going to play our role,” Henderson said. “Tonight I saw some opportunities to attack, and that’s what I did. Some of them went in.”Then Butler, in response to her poor first half, hit a 3 with 6:25 to go to give the Orange a 62-58 lead.“In the second half I was able to slow down, catch myself, and be able to just shoot without thinking too much,” Butler said.Peterson and Henderson continued to carry SU down the stretch. Henderson found forward Briana Day inside for a layup to put SU up, 68-64 and Peterson then hit two free throws to give SU a 70-66 lead.But even as timely scoring gave Syracuse hope, Butler couldn’t find any rhythm. The junior’s missed 3s in the waning moments — the first with the score tied at 72, the second with the Orange trailing by two — prevented the Orange from recapturing a lead it held tenuously late in the second half.And even while struggling, Hillsman designed a play for Butler on the game’s final possession. He called timeout with 17 seconds left on the clock and the Orange down, 74-72.Butler didn’t have a shot, though, and instead passed to Peterson, who tried a layup from the left side that hung on the rim but rolled off, and the Orange’s effort to overcome Butler’s poor night fell with it.“We got exactly what we wanted. We got the ball into (Butler’s) hands,” Hillsman said. “ … I just keep waiting, and I keep saying it, because it happened last year around this time. We kept having this conversation, and she ended up shooting like 65 percent for the rest of the season from beyond the arc.“It’s coming. It’s coming.” Facebook Twitter Google+
United Kingdom-based expert, Colonel Russell Combe has handed over to Government his final report on the Security Sector Reform Programme (SSRP).The document was handed over to President David Granger at the State House on Wednesday in the presence of top-ranking Police and military officers.While the report focuses primarily on reforms within the Guyana Police Force, Combe explained that there were measures also included to address issues plaguing the Prison and Fire Services as well as the Coast Guard of the GuyanaUK security expert Colonel Russell Combe handing over the SSRP report to President David Granger on Thursday at State HouseDefence Force (GDF).During a meeting with then British Prime Minister David Cameron back in 2016, President Granger had requested that the multimillion-dollar SSRP be revived.The US$4.7 million security sector pact was initially launched in 2007, but was scrapped two years later, after major disagreements between the then Administration and the UK Government over some of the conditions of the plan.According to President Granger, with this report, his Government will now try to correct errors.Recalling all the previous attempts at security reform, the Head of State posited that the root cause of the escalation in crime in Guyana was narcotics trafficking.However, the UK-based security expert explained that tackling the cause of crime was outside of his current capacity.“(Cause of crime) is driven by economics and whilst that’s an important area to tackle, that’s not an area where I would be in the position to offer advice to the President. He needs to look at that along with his other government strategies and… hopefully, there will be resources to improve in that area with the oil and gas exploration taking place in Guyanese waters,” he asserted.Nevertheless, Combe went on to posit that the presentation of the report was not just the beginning or end of efforts to reform the local security sector.“The report is dynamic; it’s not to represent just the beginning. Activities supported by the United Kingdom have already commenced: the training of (Police’s) Strategic Planning Unit last year and then in November, there was consultancy on the marine capability of the Police Force and indeed engaged with the Coast Guards as well… So, this is not the beginning, nor is it the end,” he noted.The Colonel added that the report did not only contain his views on issues facing the security services in particular the Police Force but was a compilation of previous reports.“I also want to stress that it’s a dynamic document, one that will be built upon throughout my period of return, and also a reference document for the various security sector players and actors,” he outlined.The UK expert further stated that they do not want to see the report sitting on a shelf, gathering dust. In fact, he noted that the report was compiled in such a way that it can be broken up and separated into parts to be dealt with by different groupings.Colonel Combe is expected to return in April this year to oversee the implementation of his recommendations. His new tenure will see him in Guyana until March 2019.