As part of the ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM), all ASEAN countries have expressed their agreement and support for the establishment of the ASEAN Treasury Forum (ATF), which was initiated by Indonesia in 2023. Under the theme "Optimizing Government Cash Management for Sustainable Development," the ASEAN Treasury Forum Seminar was held in person in Luang Prabang, Laos, on Wednesday (April 3) and was opened by the Director General of Treasury, Astera Primanto Bhakti, as the Head of Delegates (HoD) for Indonesia.
"The government must have accurate daily monitoring and reliable cash forecasting to support decision-making and ensure that every financial policy is executed effectively and efficiently," stated the Director General of Treasury in his opening remarks at the ASEAN Treasury Forum Seminar.
As part of treasury and fiscal management policies, cash management must support the countercyclical role during crises. As noted in the G20 meeting in Sao Paulo, Brazil, last February, the global economy has a significant chance of achieving a soft landing, as evidenced by resilient growth, despite differences between countries and regions. However, compared to the previous COVID pandemic, global economic growth remains below the average growth rate from 2000 to 2019.
"The lesson from the pandemic is that the government needs an integrated and interconnected cash management system that can provide comprehensive information on government revenue and expenditure throughout the fiscal year, enabling policymakers to forecast short-term available funds and identify any temporarily idle cash," explained the Director General of Treasury, emphasizing the role of treasury as part of fiscal policy management.
Moderated by a host from Laos National TV, the ASEAN Treasury Forum Seminar featured three distinguished speakers: Deputy Director General of the National Treasury of Laos, Boualuengkhin Douangsavanh, Director of State Cash Management at DJPb, Noor Faisal Achmad, and Technical Assistance Officer for the Fiscal Sector, Fiscal Affairs Department, International Monetary Fund (IMF), Holger van Eden.
As explained by the Director General of Treasury, the ASEAN Treasury Forum Seminar aims to provide a platform for esteemed speakers and participants to engage and share their valuable perspectives and experiences on how cash management is handled in their respective countries during normal times or even during crises. All participants are encouraged to engage in discussions and actively share knowledge, as insights from each individual will be invaluable in strengthening cash management practices across the ASEAN region.
