ASEAN+3 Macroeconomic Research Office

Introduction
2023 Work Priorities
Organization
- Organization Factsheet
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- Annual Report 2023

Message from AMRO Director

2023 was another year marked by significant challenges. Virtually all economies felt the effects of global economic uncertainty, including tighter monetary conditions, a slowdown in global trade, and volatile commodity prices amid growing geopolitical tensions. AMRO continued to fulfil our mandate to safeguard the macroeconomic and financial resilience and stability of the ASEAN+3 region by performing our role as a trusted policy advisor to member economies.

Message from 2023 Co-chairs of the Executive Committee

Following its SD2030, AMRO’s elevated mission is to contribute to the macroeconomic and financial resilience and stability of the ASEAN+3 region through surveillance, supporting the RFA, providing TA, serving as a regional knowledge hub, and facilitating ASEAN+3 financial cooperation. We are pleased to share that in 2023, AMRO has exceeded our expectations.

Prescribing Policy Advice Through Vigilant Surveillance

Macroeconomic surveillance of member economies is one of AMRO’s core functions. Its objective is to identify risks to economic growth and financial stability with a focus on inflation, balance of payments, and the financial sector; and prescribe policies to address those risks. In 2023, AMRO has developed a systematic review framework to strengthen the rigor of its country surveillance process.

Advancing CMIM and ASEAN+3 Regional Financing Arrangements

Providing technical and analytical support to improve the accessibility and effectiveness of the CMIM is one of AMRO’s core functions. In 2023, AMRO facilitated members’ discussions in exploring new lending facilities and financing structures for the ASEAN+3 RFA, with the aim of further developing the RFA to augment the CMIM.

Supporting Capacity Development Through Technical Assistance

The third and final core function of AMRO is capacity building in member economies through its TA program. In 2023, AMRO continued to provide TA through various modalities: consultancy, training courses/seminars, secondment programs and research collaborations.

Ensuring An Effective and Accountable Organization

AMRO is accountable to its shareholders, consisting of 27 member authorities in 13 countries across the ASEAN+3 region. Since 2017, AMRO has established an organizational Performance Evaluation Framework (PEF), which enables it to function as a results-oriented international organization, benchmarking the best practices of its peers.

Promoting Partnerships and Outreach

AMRO remained steadfast in its commitment to building and strengthening relationships with its strategic partners and peer institutions, further deepening its partnerships to support its core functions in 2023. It also expanded its partner network by engaging in more regional and global forums, and held various joint events to exchange knowledge and ideas with peers from ASEAN+3 economies.

Driving Resilience & Stability In A Complex World