The annual meeting of the International Monetary Fund (IMF) and World Bank (WB) from Oct 8 to 14, 2018, in Bali will increase the circulation of money on the island to a minimum of US$100 million, or Rp1.3 trillion (exchange rate of $1US = Rp13,500) .
The Head of the 2018 IMF-World Bank Annual Meeting Task Force, Peter Jacobs, stated here on Monday that the figure was based on hotel room rent, airline tickets, and transportation services to be used by 15 thousand delegates from around the world.
"That is only a minimal amount, because it has not been added with, for instance, the tour expenditures or other expenses made by the 15 thousand delegates," he noted.
The value of the circulated money has excluded the investment agreements or business agreements, which will be approved by the delegates at the meeting.
The Indonesian Government, as the organizing committee, has estimated that the annual meeting of IMF-WB 2018 will bring in 4 thousand official delegations at the levels of ministers, and the Central Bank Governor, of 189 IMF-WB member countries.
The delegation will also include 5 thousand investors, 1 thousand reviewers, 1.5 thousand IMF and WB employees, thousands of entrepreneurs, as well as 1 thousand journalists.
The summit of the 2018 IMF-WB meeting will take place from Oct 12 to 14, 2018. Meanwhile, side events, such as discussions and business meetings, will also take place from Oct 8 to 14, 2018.
Jacobs added that the Government of Indonesia and Bank Indonesia, as the organizers, have prepared a number facilities and infrastructure to support the meeting, such as meeting hall, accommodation, transportation, consumption, and tour packages.
The Ministry of Tourism will prepare various tourist destinations for the delegation members other than Bali.
"We hope that many important decisions are made in this meeting. We must use this event to boost the economy in Bali and Indonesia," Jacobs remarked.
The committee will also prepare a contingency plan for the delegates if a natural disaster or any untoward incident, such as a riot, takes place during the meeting.