The Indonesian Ministry of Finance took the initiative to form the ASEAN Treasury Forum (ATF), which was initiated by a high-level meeting between high-level treasury officials from ASEAN member countries and a seminar to discuss current issues regarding the digitalization of public financial management. This initiative also reaffirms ASEAN's dedication to improving regional financial stability, fostering technological innovation, and encouraging collaboration.
“Southeast Asia is currently a center for digital innovation. We can see that the use of digital payments is increasing rapidly. In Indonesia, QRIS has become a transaction standard. Indonesia also uses data analytics as a guide in making policies, monitoring expenditures, identifying suspicious activities and transactions and optimizing budgeting allocations. We have also now entered an era of automation which will increase efficiency and save costs. "At the same time, it is very important for us to improve digital security," explained Astera Director General of Treasury Primanto Bhakti when opening the ATF initiation activities as one of the side events of The 10th Joint Meeting of the ASEAN Finance Ministers and Central Bank Governors (AFMGM) in Jakarta, Wednesday (08/23). Minister of Finance Sri Mulyani Indrawati also delivered remarks at this activity.
ATF aims to share best practices in public financial management, increase treasury-related capacity and skills development, promote sustainable public finance, accelerate the digitalization of treasury to promote lean governance capable of doing more with fewer resources, and advance the ASEAN economic community to support ASEAN economic integration.
This activity was also attended by the Director General of Budget, Director General of State Assets, Director General of Financing and Risk Management, Head of BPPK, OBTI Expert Staff, State Revenue Expert Staff, representatives of echelon II officials of the Secretariat General, BKF, DJPPR, and DJPB, representatives of the ASEAN Member States Treasury delegation, as well as invitations from stakeholders from State Ministries/Institutions.
On the same day, an International Seminar on Digitalization in Public Finance to Support Financial Sustainability was also held with speakers from Senior Governance Specialist World Bank, Khuram Farooq, Deputy Division Chief International Monetary Fund Sailendra Pattanayak, Group Director of Financial Reporting and Operations at the Ministry of Finance of Singapore, Chua Bee Yan, Assistant Secretary of the Australian Department of Finance, Romesh Guneratne, and Director of State Treasury Management, Directorate General of Treasury, Ministry of Finance of the Republic of Indonesia, Noor Faisal Achmad. The adoption of digital technology, as a major component in public financial management efforts, has accelerated widespread change. However, ASEAN does not yet have a forum to discuss aspects of microfinance management, especially in the treasury realm. That's why the DJPb Ministry of Finance is encouraging the initiation of the formation of ATF.
“Sustainable digitalization of public financial management is an important foundation in the Indonesian economy. The use of technology has the aim of increasing the usefulness of every money we spend. "Technology has the function of being a cushion in facing future crises and supporting the creation of public finances that are transparent, accountable, responsible and responsive to the needs of every citizen," said the Director General of Treasury.
