China's Economic Stimulus: Implications for Global Markets.

The Chinese government is preparing to implement a significant economic stimulus program with the objective of stimulating domestic demand and achieving the country's annual economic growth target. Deputy Finance Minister Liao Min stated that the goal is to reinforce macroeconomic policy and expand domestic demand in order to achieve this year's GDP growth target. The government will collaborate with monetary policy to facilitate economic restructuring, particularly with regard to domestic demand, including consumption. The magnitude of the stimulus package is anticipated to be considerable. This initiative follows the release of weaker-than-expected economic data in recent weeks, which has prompted concerns about China's capacity to attain a growth rate of approximately 5%. Investors are closely monitoring the details of China's fiscal package, which are scheduled to be disclosed at an upcoming legislative meeting.

Kejar Ekonomi Tumbuh 5%, China Fokus Dongkrak Permintaan Domestik

BRICS Payment System Could Disrupt Global Finance, Says IMF.

The International Monetary Fund (IMF) is interested in learning more about the cross-border payment system discussed by the BRICS group of countries. The objective of this system is to facilitate an increase in non-dollar transactions. The BRICS group meeting, comprising Brazil, Russia, India, China, and South Africa, is taking place in Kazan, Russia, concurrently with the annual meetings of the IMF and World Bank in Washington. At the conclusion of the summit, the Russian government secured a joint declaration that supports the reinforcement of correspondent banking networks within BRICS and the utilization of local currencies for settlements, in alignment with the BRICS Cross-Border Payments Initiative (BCBPI). The objective is to establish a system that will compete with the SWIFT payment system, which Russia is currently prohibited from using. The IMF's Managing Director, Kristalina Georgieva, has expressed interest in learning more about this new payment system.

IMF Selidiki Rencana Sistem Pembayaran BRICS

G20 Warns of Rising Risks to Global Economy.

The finance ministers and central bank governors of the G20 group released a draft communique stating that while the global economy is experiencing a soft landing, there are still significant risks. The G20 noted that economic growth is not evenly distributed among countries, leading to the potential for divergence. They also highlighted that global output remains resilient, but there are increasing downside risks stemming from wars, economic fragmentation, commodity price spikes, and higher than expected inflation. The G20 met on the sidelines of the IMF and World Bank meetings in Washington, with the upcoming US election being a major topic of discussion. Brazil's Finance Minister, Fernando Haddad, who holds the G20 presidency this year, emphasized that the outcome of the race between Kamala Harris and Donald Trump will have a global impact.

Risiko Meningkat, G20 Prediksi Pertumbuhan Ekonomi Global Akan 'Soft Landing'