Indonesian Vice President Gibran Rakabuming Raka urged fundamental reform of the international financial system to be more inclusive toward developing countries during the first day of the 2025 G20 Summit in Johannesburg, South Africa on Friday, November 22, emphasizing that without changes to global financial architecture, developing nations will continue facing fiscal pressures that hinder long-term development.
During the plenary session, Vice President Gibran advocated for fairer financing through debt relief, blended finance mechanisms, and support for green transition, stressing that equal and predictable access to financing is essential for strengthening economic resilience and accelerating sustainable development in emerging economies.
Coordinating Minister for Economic Affairs Airlangga Hartarto stated at a post-summit press conference that "the Vice President emphasized that international financing must be more accessible and equitable for developing countries, including through debt cancellation, innovative financing, and support for green transition."
Indonesia showcased its Quick Response Code Indonesian Standard (QRIS) payment system as a practical example of affordable, inclusive digital innovation with broad impact, noting its successful adoption across Asian countries including Japan and South Korea as a potential global reference for accelerating cross-border payment system integration.
Vice President Gibran emphasized that global financial reform must progress in parallel with more inclusive technology governance, urging the G20 to initiate dialogue on the "economy of intelligence" and artificial intelligence governance frameworks as AI increasingly influences global economic architecture and financial systems.
