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.
The Korean economy has recovered strongly from the pandemic, led by robust export growth and a strong rebound in private consumption. However, inflation remains elevated and the economic outlook in the near term has deteriorated amid tighter financial conditions and weakening external demand.
Investment in the fintech sector globally has risen, but so has competition for funding. Recent initiatives, such as the Hong Kong Monetary Authority’s (HKMA) Fintech 2025 strategy, will strengthen fintech’s role as Hong Kong’s next growth engine, but the city can do more to help its fintech sector compete with other fintech hubs in attracting funding.
The COVID-19 pandemic has accelerated the flight to digital for businesses and consumers globally, contributing to the fintech boom as technology has been introduced into many financial services and transactions.
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