Established in 2011 by ASEAN+3 Finance Ministers, the ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization that aims to contribute to the macroeconomic and financial resilience and stability in the ASEAN+3 region.
During 2022, the Korean won (KRW) exchange rate was highly volatile as the U.S. economy emerged from the pandemic and the U.S. dollar (USD) strengthened following the hawkish policy stance of the U.S. Federal Reserve.
Cambodia’s economy had been growing remarkably in the last decade before coming to a sudden stop due to the COVID-19 pandemic. While Cambodia is now on a good recovery path, some indicators suggest long-term external vulnerability.
Launching a loan restructuring program, or similar initiatives such as loan repayment assistance or a loan moratorium, is common practice among ASEAN+3 governments responding to the financial distress caused by the COVID-19 pandemic.
With a total financing capacity of USD240 billion, the Chiang Mai Initiative Multilateralisation (CMIM) is the world’s second largest regional financing arrangement (RFA) among active RFAs, after the European Stability Mechanism (ESM) and much larger than most other arrangements in non-European regions.
Continue ReadingApplying Flexible Purchasing Multiple to Enhance CMIM Resource Allocation