Indonesian, Singaporean central banks extend 10-billion-USD bilateral financial pact hinh anh 1Illustrative photo (Source:


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./.