Indonesia, Laos central banks ink cooperative agreement

The partnership was signed last 2 May.

Bank Indonesia (BI) and Bank of The Lao PDR (BOL) have inked an agreement to bolster cooperation between the two central banks.

The memorandum of understanding aims to establish a more organized and methodical structure for cooperation, and to foster a closer working relationship between BI and BOL, particularly in monetary policy, macro-prudential policy, financial stability, as well as payment and settlement systems.

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The cooperation shall commence through policy dialogue, exchange of information, technical cooperation, communication and consultation about cooperation oversight, joint innovation and capacity building, said the BI.

"The signing of this 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 enhance inclusiveness and connectivity among regional economies, as reflected in the MOU." said the governor of BI.