In May 2010, Indonesia and Norway signed a Letter of Intent on “Cooperation on Reducing Greenhouse Gas Emissions from Deforestation and Forest Degradation(REDD).” In the LoI, Norway agreed to offer Indonesia a sum of USD 1 billion with a view to encourage Indonesia to significantly contribute to the successful implementation of REDD+. On 20 May 2011, correspondingly, Indonesia announced the 2011 ‘Forest Moratorium’ (the Presidential Instruction No. 10/2011) which was valid for the following consecutive two years. By means of the 2011 ‘Forest Moratorium’, Indonesia aimed at significant reductions in greenhouse gas emissions from deforestation, forest degradation and peatland conversion. In so doing, it also sought to improve forest governance. Meanwhile, concerned stakeholders also raised various questions about the effectiveness of the ‘Forest Moratorium’. As an extension of the 2011 ‘Forest Moratorium’, Indonesia announced the 2013 ‘Forest Moratorium’(the Presidential Instruction No. 6/2013) for another two-year period on 13 May 2013. Indonesia's ‘Forest Moratorium’ is concerned with stakeholders at various levels, who may play a role of significant ‘agent’ in the process of implementing the ‘Forest Moratorium’. This mechanism of the ‘Forest Moratorium’ should be understood in the light of forest governance. Employing stakeholder approach, therefore, this article attempts to analyze Indonesia's ‘Forest Moratorium’ in the light of forest governance. In this regard, it analyzes the detailed contents of the ‘Forest Moratorium’, the process of making the ‘Forest Moratorium’, current development of the Indicative Moratorium Map for suspension of new concessions on forest land, and contesting views of various stakeholders. At the same time, it also talks about how ‘weak’ forest governance had influence upon Indonesia's ‘Forest Moratorium’. In so doing, this article consequently attempts to evaluate Indonesia's ‘Forest Moratorium’ and also put it into perspective in terms of improving forest governance. The 2013 ‘Forest Moratorium’ fundamentally represents a radical policy that is designed to suspend new concessions on forest conversion for another two-year period and its detailed contents attempt to reflect on various stakeholders from related industries and environmental NGOs. However, there are challenging factors in the process of implementing the ‘Forest Moratorium’, that is, ‘weak' forest governance and also a discrepancy between forest planning maps designated by central and regional governments. The announcement of the 2013 ‘Forest Moratorium’, as an extension of the 2011 ‘Forest Moratorium’, may functionally strengthen and improve Indonesia's forest governance. However, at the same time, there is a practical limit due to the fact that it is merely a Presidential Instruction that lacks legal binding.