KUALA LUMPUR, April 22 — Malaysia discussed strengthening the financial industry and the global economy with various finance ministers who attended the Spring Meetings of the World Bank/IMF held in the United States throughout this week, according to Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz.

The Malaysian finance minister has been invited to participate in discussions held in conjunction with the second meeting of G20 finance ministers and central bank governors (G20 FMCBG).

The Spring Meetings of the World Bank/IMF are jointly chaired by Indonesia and Finland this year.

He also met up with Indonesia’s Finance Minister Ibu Sri Mulyani Indrawati and Singapore’s Finance Minister Lawrence Wong, who was also invited to attend the meetings by Indonesia as the joint chair of the G20.

"I managed to discuss with Ibu Sri Mulyani and Wong issues such as the sustainable development of the financial industry, the global economic situation, pandemic and post-pandemic preparations,” said Tengku Zafrul.

Discussions by the G20 FMCBG encompassed a review of the global economy, including the impact of geopolitics which has resulted in rising inflation due to a spike in commodity prices, he added.

The meetings also touched on exit plans for the pandemic as well as policies to deal with the long term impact of Covid-19 and preparations for future pandemics, such as the need to set up a new financial mechanism.

The G20 FMCBG also discussed strengthening the resilience of global finance and a global financial safety network, and the need to prepare a framework to work towards a financial sustainability agenda.

"Overall, I am proud to have represented Malaysia and Keluarga Malaysia in bringing the country to a better future. Amid this uncertainty, I believe that all countries are more open towards multi-faceted cooperation for the benefit of universal human wellbeing,” Tengku Zafrul added.

The G20 summit, to be chaired by Indonesia, will be held in November in Bali, Indonesia. — Bernama