The recent Russia-Ukraine conflict has highlighted that countries can be totally cut off from the global financial system, and the dollar reserves they have painstakingly built could become worthless overnight.
The Russia-Ukraine war has caused a surge in oil and other commodity prices to multi-year highs.
International sanctions imposed on Russia’s financial system and companies in the wake of its attack on Ukraine are likely to have implications for foreign banking systems.
Extreme liquidity shortage during the Asian financial crisis of 1997-1998 and the global financial crisis of 2008-2009 have motivated some ASEAN+3 economies to initiate bilateral swap arrangements (BSA) with countries either inside or outside the grouping.
The ASEAN+3 region has been well-equipped with various policy tools to help member economies weather the impact of the COVID-19 pandemic.
AMRO’s baseline 2022 GDP growth forecast for the ASEAN+3 region assumes continued improvement in the global economy, but at a slower pace due to the Omicron variant.
The ASEAN+3 Macroeconomic Research Office (AMRO) expects the ASEAN+3 region to remain resilient in 2022, despite new challenges from the COVID-19 pandemic and the global economy.
Interest in financial digitalization has been intensifying within the ASEAN+3 region.
The SMU Law School Centre for AI and Data Governance and IFA are proud to present the SMU-IFA David R Tillinghast Global Digital Taxation Webinar on February 17-18, 2022.
In 2021, the prolonged pandemic continues to cast a shadow on the global economy, but we could see a glimmer of light at the end of the tunnel. Economic recovery in the ASEAN+3 region is on track, underpinned by faster vaccination rollouts, the availability of new COVID-19 treatments, and supportive policy measures.
