No.27/118/DKom JOINT PRESS RELEASE
Under the joint witness of Chinese Premier Li Qiang and Indonesian President Prabowo Subianto, Pan Gongsheng, Governor of the People's Bank of China (PBOC) and Perry Warjiyo, Governor of Bank Indonesia, signed Memorandum of Understanding (MoU) for the establishment of a Framework for Cooperation to Promote Bilateral Transactions in Local Currencies. This MoU expands and upgrades the Memorandum of Understanding (MoU) for the Establishment of a Framework for Cooperation to Promote the Settlement of Current Account Transactions and Direct Investment in Local Currencies, originally signed by the two central banks on September 30, 2020.
The newly signed MoU extends the scope of bilateral local currency settlements cooperation from current account transactions and direct investment to all transactions including capital and financial accounts, in line with both countries' provisions in enhancing broader payment connectivity for the wider use of local currencies in bilateral transactions. It will further promote the use of local currencies in bilateral transactions and investment and enhance cooperation between two countries in monetary and financial markets.
Jakarta, 25 May 2025
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