Inp.polri.go.id - Jakarta. Indonesia has called for major reforms of the International Monetary Fund (IMF) and World Bank during the G77 ministerial meeting on the sidelines of the 80th UN General Assembly in New York.
“We propose real reforms in international financial institutions. Much must be overhauled because today’s IMF and World Bank are no longer the same as when they were created in 1945,” said Tri Tharyat, the Director of Multilateral Cooperation at the Ministry of Foreign Affairs, in a statement published by antaranews.com on Friday (26/9/2025).
He noted that Indonesia once borrowed from both institutions during the 1968 monetary crisis, with loans tied to strict project-based conditions. He stressed that current decision-making structures, based on shareholding rather than equal voting, fail to reflect today’s global economic realities.
Emerging economies, including BRICS members, now accounting for nearly 40% of global GDP, remain underrepresented. Indonesia argued that governance reform is necessary so that developing countries with growing economic power can have a stronger voice in global financial decisions.
(mg/inp/pr/rs)
