The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper presents key findings of the Financial Sector Assessment Program for Indonesia. The program covers Bank Indonesia's real-time gross settlement (BI-RTGS) system's observance of the Committee on Payment and Settlement Systems (CPSS) core principles for systemically important payment systems (SIPS). The assessment reveals that the legal foundation for payment systems in Indonesia is generally sound with explicit provisions for the central bank's involvement in payment systems. The BI-RTGS generally functions well and is recognized as the only SIPS in Indonesia.