Semarang, Central Java (20/10). Diponegoro University (Undip) Semarang held an academic ceremony in commemoration of its 64th Anniversary on October 15 2021. Commemorating its 64th Anniversary, Undip gave awards to outstanding students, outstanding educators, and cleaning staff. In addition, several names of former Undip Rectors were also commemorated as street names in the Undip Semarang campus environment.
Another important thing was the presence of the Governor of Bank Indonesia (BI), Perry Warjiyo, who also delivered a scientific oration. The oration with the theme “Be Awake and Optimistic, Build Synergy and Innovation for the Progress of the Nation” held on Friday (15/10) is expected to provide an overview and increase the synergy between Undip and BI.
“This means that the speech from BI Governor is in line with one of Undip’s taglines namely collaboration,” said Prof. Dr. Yos Johan Utama, S.H., M.Hum as the Rector of Diponegoro University.
“For that, let’s continue to increase cooperation with various parties, so that Undip can give its service in various fields, especially in the current pandemic situation,” added Prof. Yos as he is familiarly called.
Furthermore, in his presentation, the Governor of BI said that facing the pandemic and restoring the economy must be done together and in collaboration with various parties. “There are 3 essences in understanding the impacts of pandemic that we can learn,” he said.
First, the global economy is running out of balance. Developed countries are developing even faster and developing countries are lagging behind because of the ability to provide vaccinations and health facilities. Corporations field are also highly affected by the pandemic.
Second, digitalization civilization includes digitalization in the fields of economy, finance, education, health in our lives. The Covid-19 pandemic has spread throughout the world including Indonesia so we have to overcome it.
The third is to be friendly with the nature, because there are demands for a green economy and finance that is more environmentally friendly and more sustainable.
“In response, we cannot do it alone. Synergy, collaboration, congregation, staying in touch, those are what we continue to do,” added the BI Governor.
The first step is building the synergy of economic and financial recovery between the government, BI, OJK (Financial Services Authority), LPS, and various parties. All parties need to collaborate in overcoming the impacts of pandemic and restoring the economy.
Second, BI has developed 5 policy instruments so that they can contribute more and bring benefits for the country’s economy and society. The instruments aim to maintain stability, encourage growth, and establish solidarity to help finance growth in the country during this pandemic.
The third is the digitalization of the payment system. Fourth is to support the government in the transformation of the real and financial system. Fifth, prepare the green economy and finance,” he said.
Furthermore, Perry conveyed about resilience, recovery, and digitalization, which are three important lessons from the Covid-19 pandemic. The global pandemic is main challenge for us since it causes uneven global economy as well as the scarring effect affecting FSS (Financial System Stability), economic acceleration, digital finance, and economic adoption.
In 2021, the global economy is expected to grow by 5.8% but the recovery is uneven. Countries with vaccine access (especially developed countries) will recover more quickly, while Emerging Market Economies (EMEs) countries with limited access to vaccines will recover more slowly. The Fed will start tapering-off at the end of 2021. This will make policies in EMEs more complex, especially if domestic conditions still require loose macroeconomic policies.
Digitalization of the payment system, increase of public preference and acceptance of digital technology will further encourage the rapid pace of digital economic transactions, accelerate the development of fin-tech, and digital banking in the future. The Covid-19 pandemic has resulted in an increase in leverage from non-financial corporations which causes an increase in the risk of corporate failure. In 2020, the number of corporate defaults reached the highest level since the Global Financial Crisis. Therefore it is necessary to take short-term corporate recovery steps.
“Everything can be done in a hybrid or virtual manner from their respective places, anywhere and anytime. People can teach, learn and work from anywhere and it reduces human mobility. It also reduces pollution which is good in developing green and environmentally friendly ecosystem,” said Perry.
In the field of science and technology, we must present innovation of technology for more environmentally friendly energy resources.
He hoped that Undip will continue to take part in global collaboration. GOM or Medical Ozone Generator is one of the innovations from Undip that made him proud. The BI Governor was sure that Undip will bring many innovations in the fields of technology, health, pharmacy, economic and financial, both in the curriculum and in life practice.
“The pandemic shall pass, with God’s message which always be embedded in our hearts. Do not stop to enrich our minds to establish synergy and innovation for the progress of the nation,” concluded the BI Governor.