At the event (Photo: Antara) Jakarta (VNA) - Bank Indonesia (BI) and the Bank of the Lao PDR (BOL) have signed a Memorandum of Understanding (MoU) to strengthen relationship between the two central banks.
The MoU was signed by BI's Governor Perry Warjiyo, and BOL's Governor Bounleua Sinxayvoravong on May 2 on the sideline of the ASEAN+3 Finance Ministers and Central Bank Governors Meeting (AFMGM+3) in Incheon, Republic of Korea.
The signing of the MoU reflects the commitment of BI and BOL to bolster cooperation between the two central banks through a more structured and systematic cooperation framework. It aims to facilitate various cooperation initiatives in the core areas such as monetary policy, macro prudential policy, financial stability and the payment and settlement system.
The agreement will be implemented through policy dialogue, information exchange, technical cooperation, communication and consultation on cooperation monitoring, joint innovation, and capacity development, according to a joint press release.
The Governor of Bank Indonesia emphasised that the signing of the MoU is a starting point for more solid collaboration for both central banks in the future. It is also in line with the spirit of Indonesia's ASEAN Chairmanship 2023 to boost inclusiveness and connectivity among regional economies.
Meanwhile, BOL's Governor said the MoU not only signifies a crucial milestone in intensifying cooperation between the two central banks, but it will also be a good start to support the realisation of ASEAN's regional connectivity./.
