KANAZAWA, JAPAN, December 5, 2023 – In an era marked by global challenges, the ASEAN+3 Macroeconomic Research Office (AMRO) is holding today the second ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) themed, “Safeguarding Growth and Stability in a Complex World: Challenges and Solutions”.

After its successful launch in Singapore last year, the second edition of the AMRO Forum is held in Kanazawa, Japan. The annual event gathers policymakers, academia, and industry thought leaders to discuss issues concerning the macro-financial stability and economic outlook of the ASEAN+3 region, comprising 10 member states of the Association of Southeast Asian Nations (ASEAN) and China; Hong Kong, China; Japan, and Korea.

Speaking at the start of the 2023 Forum, AMRO Director Mr. Kouqing Li said: “The recent years have been nothing short of a testament to the remarkable resilience of the ASEAN+3 region and the strength that our economies collectively embody. However, the persisting geopolitical tensions, tighter monetary conditions, slowdown in global trade, and volatile commodity and food prices, among others, make the global economic outlook fragile.”

Amid the changing landscape and evolving challenges, Mr. Li noted that “the AMRO Forum serves as a platform for policymakers and thought leaders to convene, identify pressing issues, and inspire solutions to ensure growth, resilience, and stability in ASEAN+3.”

Held on the sidelines of the ASEAN+3 Finance and Central Bank Deputies Meeting, the 2023 AMRO Forum is joined by senior policymakers and hundreds of participants in a hybrid format. Over 20 distinguished speakers will be leading discussions on the challenges to the region’s outlook and macro-financial stability. They will present solutions and initiatives in fostering new areas of growth over two sessions, comprising keynote speeches and panel discussions.

AMRO Director Mr. Li will jointly open the Forum with International Monetary Fund Managing Director Ms. Kristalina Georgieva, Asian Development Bank President Mr. Masatsugu Asakawa, and Mr. Masato Kanda, Japan’s Vice Minister of Finance for International Affairs.

In the morning session, keynote speakers, Mr. Perry Warjiyo, Governor, Bank Indonesia, and Mr. Yoshiki Takeuchi, Deputy Secretary-General, Organisation for Economic Co-operation and Development, and panelists will share their insights on the latest macroeconomic situation of the ASEAN+3 economies and suggest how they can cope with challenges and leverage opportunities to bolster crisis preparedness and foster resilience.

In the afternoon session, keynote speakers, Mr. Eddie Yue, Chief Executive, Hong Kong Monetary Authority, and Mr. Klaas Knot, Chair, Financial Stability Board, and panelists will discuss plausible actions to rising debt and financial stress and the implications for ASEAN+3’s financial stability.

AMRO will also launch its second flagship report – the ASEAN+3 Financial Stability Report (AFSR) at the Forum. Tailored to ASEAN+3 economies, the pioneering report for the region delves into recent market developments and potential risks, while providing an in-depth analysis of the impact of high debt on financial stability.

AMRO would like to express its sincere appreciation to the Ministry of Finance of Japan for their support and the partnership of the Asian Development Bank Institute in the successful organization of the 2023 AMRO Forum. To join the Forum virtually, please visit the event website.

About AMRO

The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization established to contribute toward securing macroeconomic and financial resilience and stability of the ASEAN+3 region, comprising 10 members of the Association of Southeast Asian Nations (ASEAN) and China; Hong Kong, China; Japan; and Korea. AMRO’s mandate is to conduct macroeconomic surveillance, support regional financial arrangements, and provide technical assistance to the members. In addition, AMRO also serves as a regional knowledge hub and provides support to ASEAN+3 financial cooperation.