As part of the first ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) held from March 28-31 in Bali, the host country Indonesia organised AFMGMs with the ASEAN-US Business Council (ASEAN-US ABC), the EU-ASEAN Business Council (EU ABC), and the ASEAN Business Advisory Council (ASEAN ABAC) on March 29.
While the Indonesian economy has been recovering ever since the second quarter of 2021, there is some concern that Indonesia will experience a small hiccup in Q1-2022 as the Indonesian government felt the need to tighten its social and business restrictions (to PPKM Level 3) in February 2022 due to the rapid spread of Omicron in society. It is a decision that should somewhat limit economic activity.