(re)Defining Responsibilities in Time of Fear: The Interlocking Role of State and International Financial Institutions in Economic Security
Annisa D. Amalia, Lecturer, Department of International Relations, Universitas Indonesia.
Makmur Keliat, Senior Lecturer, Department of International Relations, Universitas Indonesia.
Eric Sugandi, Project Consultant, Asia Development Bank Institute, Tokyo
Human security agenda often provokes a debate on “whose security to be protected, and by whom?”. The personal and national level of security are seen as mutually exclusive. The current global Covid-19 outbreak has taught us that resolving insecurities, most particularly the economic insecurities, cannot be detached from the government’s responsibility to boost the national economic recovery, for the sake of securing the (economic) life of the people. The bolstered state’s role here should not be regarded as the promotion of protectionism, but instead reinforce the need to advance an intensive collaboration between multiple stakeholders, particularly between the state and international financial institutions.
Keywords: Covid-19, economic security, economic recovery, financial institutions, international cooperation