ASEAN+3 Macroeconomic Research Office

Events

ASEAN+3 Financial Stability Report (AFSR) 2024 Outreach Webinar

Date & Time:

Tuesday, November 12, 2024, 2:00 PM – 3:30 PM (GMT+8)

AMRO and the South East Asian Central Banks (SEACEN) will co-organize the ASEAN+3 Financial Stability Report (AFSR) 2024 webinar on November 12, 2024. Experts from both institutions will exchange views on pressing financial developments in ASEAN+3, discuss the challenges that lie ahead for the region, and share perspectives on the key policy priorities that will ensure financial resilience and stability in ASEAN+3.

By invitation only.

Program

Time

Program

2:00 PM – 2:05 PM

Welcome Remarks

Srichander RAMASWAMY, Director, Financial Stability, Supervision and Payments, SEACEN Centre

2:05 PM – 2:10 PM

Opening Remarks

Hoe Ee KHOR, Chief Economist, AMRO

2:10 PM – 2:35 PM

ASEAN+3 Financial Stability Report (AFSR) Presentation

Kevin CHENG, Lead Economist, AMRO

The presentation will begin with AMRO’s latest assessment for the ASEAN+3 region, covering near- to long-term risks and challenges to financial stability, along with policy considerations to address both conjunctural and structural issues. It will then assess the risks and challenges ASEAN+3 economies face due to their high reliance on the US dollar.

2:35 PM – 3:10 PM

Panel Discussion on region’s reliance on US Dollar?

Moderator: Prashant PANDE, Senior Financial Specialist, AMRO

Panelists:

Hoe Ee KHOR, Chief Economist, AMRO
Srichander RAMASWAMY, Director, Financial Stability, Supervision and Payments, SEACEN Centre

The objective of the session is to (1) exchange views on AFSR’s key findings and (2) gather perspectives from panelists and participants on how ASEAN+3 economies can ensure financial resilience and stability amid increasing global uncertainties.

The ASEAN+3 region faces increasing challenges to financial stability due to global economic uncertainties, including geopolitical tensions, inflation, and shifts in US monetary policy. A key concern is the region’s reliance on the US dollar, which heightens risks related to currency fluctuations and external shocks.

The region’s reliance on the US dollar creates two important risks for the ASEAN+3 financial system. First, a shortage in availability of US dollars can increase risks for financial markets and intermediaries. Second, the US dollar acts as a transmission channel for shocks arising from US monetary policy, geopolitical tensions and other global developments.

(1) How has global economic uncertainty, including geopolitical tensions and inflationary pressures, impacted financial stability in the region?

(2) What are the potential concerns associated with the region’s reliance on the US dollar?

(3) What could be the implications of a new round of US monetary easing for the region?

(4) How can ASEAN+3 economies further promote the use of local currencies?

3:10 PM – 3:30 PM

Q&A