Illustrative photo (Source: crossed-flag-pins.com) Jakarta (VNA) – 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.
The extension has been endorsed by Indonesian President Joko Widodo and Singaporean Prime Minister Lee Hsien Loong, they said in a recent joint media release.
Accordingly, the move will support monetary and financial stability in both countries amid the COVID-19 pandemic.
The arrangement was established in November 2018, following the Singapore-Indonesia Leaders’ Retreat, where the leaders asked BI and MAS to establish the arrangement to build confidence in each other’s economies. It was previously extended for a year in November 2019./.
VNA
