• Can Bank Indonesia Leave Its Key Rate Unchanged in December?

    The central bank of Indonesia (Bank Indonesia) will conduct its final monthly policy meeting for 2017 on 13-14 December. Based on statements made by Bank Indonesia Deputy Governor Dody Budi Waluyo on Wednesday (06/12) at Bloomberg's Year Ahead Asia Conference, the benchmark interest rate of Indonesia will likely remain unchanged at 4.25 percent at this year's final policy meeting.

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  • Bank Indonesia to Ban Bitcoin Payment Transactions in 2018

    The central bank of Indonesia (Bank Indonesia) will soon issue a new regulation in which it bans the use of bitcoin for domestic payments starting from 2018. Bitcoin is a (virtual) digital currency that is traded at cryptocurrency exchanges for fiat currencies. According to Bank Indonesia, however, the use of bitcoin undermines the sovereignty of the Indonesian rupiah.

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  • Opportunities for Indonesia's SVLK Certified Wood & Timber Exporters

    Indonesia has exported over USD $1 billion of certified wood and timber products to the European Union (EU) since the EU recognized Indonesia's Legality Verification System (in Indonesian: Sistem Verifikasi Legalitas Kayu, or, SVLK) certificate. The SVLK certificate, designed to verify the legality of timber products, is now in accordance to the EU's Forest Law enforcement, Governance and Trade (FLEGT) action plan.

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