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Indonesian, Singaporean central banks extend 10-billion-USD bilateral financial pact

The Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) have announced the extension of their 10-billion-USD bilateral financial arrangement for another year.
Indonesian, Singaporean central banks extend 10-billion-USD bilateral financial pact ảnh 1Illustrative photo (Source: crossed-flag-pins.com)

Jakarta (VNA) – The Bank Indonesia (BI) and theMonetary Authority of Singapore (MAS) have announced the extension of their 10-billion-USDbilateral financial arrangement for another year.

The extension has been endorsed by Indonesian President JokoWidodo and Singaporean Prime Minister Lee Hsien Loong, they said in a recent joint mediarelease.

Accordingly, the move will support monetary and financialstability in both countries amid the COVID-19 pandemic.

The arrangement was established in November 2018, followingthe Singapore-Indonesia Leaders’ Retreat, where the leaders asked BI and MAS toestablish the arrangement to build confidence in each other’s economies. It waspreviously extended for a year in November 2019./.

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