• 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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  • Consumer Price Index Indonesia: November Inflation at 3.30% Y/Y

    Indonesian inflation eased further in November 2017. Based on the latest official announcement of Statistics Indonesia (BPS), released on Monday morning (04/12), inflation was recorded at 0.20 percent month-on-month (m/m) in November, a relatively low figure for November inflation if we compare it to November inflation figures in recent years (see table below).

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