Bank Indonesia, Lao central bank strengthen bilateral cooperation
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./.