ASEAN+3 Macroeconomic Research Office

ASEAN+3 Joint Statements

Joint Statement of the 27th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (Tbilisi, Georgia, May 3, 2024)

May 3, 2024

I. Introduction 1. The 27th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3) was convened on 3 May 2024 under the co-chairmanship of H.E. Santiphab Phomvihane, Minister of Finance…

Blogs

Everything Everywhere All at Once: Revamping The ASEAN+3 RFA’s Lending Toolkit

January 9, 2024

Jiangyan Yu, Justin Lim

The underutilization of CMIM facilities during recent crises highlights the need to reevaluate the effectiveness of ASEAN+3 region’s financial safety net.

Policy Position Papers

Opportunities and Challenges of Financial Digitalization: A New Perspective on ASEAN+3 Regional Financial Cooperation

May 2, 2023

Alex Liyang Tang, Chiang Yong (Edmond) Choo, Hoang Nam Nguyen, Li Lian Ong, Prashant Pande, Toàn Long Quách, Yin Fai Ho

Financial digitalization (FinDig) is changing the landscape of the international monetary and financial system.

ASEAN+3 Joint Statements

Joint Statement of the 26th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (Incheon, Korea, May 2, 2023)

May 2, 2023

The ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (The Meeting) was convened on 2 May 2023 under the co-chairmanship of H.E. Sri Mulyani Indrawati, Minister of Finance of the Republic of Indonesia, H.E. Perry Warjiyo, Governor of Bank Indonesia, H.E. Shunichi Suzuki, Minister of Finance of Japan, and H.E. Kazuo Ueda, Governor of the Bank of Japan.

Blogs

Why CMIM Remains a Backup Insurance Policy

November 23, 2022

Andrea Salvador, Chanthevivanh Keobounphanh

The cases of the Philippines and Indonesia are among the reasons why the CMIM has never been tapped.

Blogs

The Argentine Case: Lessons for the CMIM

October 14, 2022

Satwika Lulu

Since 1958, two years after joining the International Monetary Fund (IMF),

Blogs

Applying Flexible Purchasing Multiple to Enhance CMIM Resource Allocation

September 28, 2022

Nam Sung Kim

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.

History book

Trauma to Triumph: Rising from the Ashes of the Asian Financial Crisis

May 24, 2022

Diwa C. Guinigundo, Hoe Ee Khor, Masahiro Kawai

This book takes stock of and analyzes the events during the Asian financial crisis (AFC) and subsequent developments, including the global financial crisis (GFC).

ASEAN+3 Joint Statements

Joint Statement of the 25th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (May 12, 2022, Virtual)

May 12, 2022

The 25th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3) was convened on 12 May 2022 under the co-chairmanship of H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance of the Kingdom of Cambodia, H.E. Sum Sannisith, Deputy Governor of the National Bank of Cambodia and H.E. Liu Kun, Minister of Finance of the People’s Republic of China, H.E. Chen Yulu, Deputy Governor of the People’s Bank of China.

Policy Position Papers

Capital Flow Management and Macroprudential Policy Measures in the ASEAN+3: Initial Recommendations

March 17, 2022

Laura Grace Gabriella, Li Lian Ong

The role of capital flows and how they are managed have been controversial issues for ASEAN+3 emerging market economies since the Asian financial crisis.

Search Results