Mr Rudiantara, Minister of Communications and Information Technology, Republic of Indonesia, says 34,000 participants are expected to gather at the 2018 International Monetary Fund/ World Bank Group Annual Meetings.

Rudiantara said this on Monday in Bali, Indonesia, while addressing journalists on the level of preparedness for the meetings.

He also said that the country was fully prepared to host the meetings.

“This is not the first time Bali is hosting such international events.

“This is however, considered a big one because there will be 34,000 gathered in Nusu Dua, Bali, to participate in the annual meetings.”

Runditara said that by hosting the meeting, central bank governors and ministers of finance from across the world would concentrate on happenings around Indonesia, particularly Bali.

“We have the Bali Declarations and globally there are economic issues and we hope to come up with breakthroughs to respond to the global uncertainties in the world economies.

“There will be discussions by the 189 ministers of finance and the 189 central bank governors on the Bali Declarations.

“We will come up with new Human Capital Index for the globe.”

The communications minister said that the meeting would spur economic activities and grow Indonesia’s Gross Domestic Product (GDP).

This, he said was because it would boost trade for hotels, restaurants, transportation and others.

“This will also increase the GDP of the Bali region because the study conducted by the Ministry of National Planning suggests that locally, GDP will increase by 0.64 per cent.”

The News Agency of Nigeria (NAN) reports that the 2018 Annual Meetings of the IMF and the World Bank would bring together experts to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development and aid effectiveness. (NAN)