Lee Ju-yeol, Governor of BOK, Signs MOU with Governor of Bank Indonesia

Attendance at G20 Finance Ministers and Central Bank Governors Meeting

Lee Ju-yeol, Governor of the Bank of Korea [Photo by Yonhap News]

[Asia Economy Reporter Seo So-jeong] On the 16th, Lee Ju-yeol, Governor of the Bank of Korea, announced that he signed a Memorandum of Understanding (MOU) for regular exchange and cooperation with Perry Warjiyo, Governor of Bank Indonesia.

Based on the MOU, the central banks of the two countries plan to hold and operate policy dialogues, working-level consultations, and capacity-building programs in areas such as monetary policy, macroprudential policy, financial stability, and payment and settlement systems.

They also expect this to serve as an opportunity to substantially strengthen future cooperation with Indonesia, the largest economy in the Association of Southeast Asian Nations (ASEAN) region and a country with high growth potential, by establishing a sustainable cooperation foundation between the two central banks.

Governor Lee is scheduled to attend the 'G20 Finance Ministers and Central Bank Governors Meeting' held in Jakarta, Indonesia, on the 17th and 18th via video. Considering the global spread of COVID-19 variants, Indonesia, the chair country, will conduct both in-person and video meetings simultaneously.

The main agenda items of this meeting are expected to include the global economy and health, the international financial system and support for vulnerable countries, financial sector resilience enhancement, digital financial inclusion, sustainable finance, and international tax system reform.

This content was produced with the assistance of AI translation services.