Opportunities and Challenges of Financial Digitalization: A New Perspective on ASEAN+3 Regional Financial Cooperation
Financial digitalization (FinDig) is changing the landscape of the international monetary and financial system.
Joint Statement of the 26th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (Incheon, Korea, May 2, 2023)
The ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (The Meeting) was convened on 2 May 2023 under the co-chairmanship of H.E. Sri Mulyani Indrawati, Minister of Finance of the Republic of Indonesia, H.E. Perry Warjiyo, Governor of Bank Indonesia, H.E. Shunichi Suzuki, Minister of Finance of Japan, and H.E. Kazuo Ueda, Governor of the Bank of Japan.
Why CMIM Remains a Backup Insurance Policy
The cases of the Philippines and Indonesia are among the reasons why the CMIM has never been tapped.
The Argentine Case: Lessons for the CMIM
Since 1958, two years after joining the International Monetary Fund (IMF),
Applying Flexible Purchasing Multiple to Enhance CMIM Resource Allocation
With a total financing capacity of USD240 billion, the Chiang Mai Initiative Multilateralisation (CMIM) is the world’s second largest regional financing arrangement (RFA) among active RFAs, after the European Stability Mechanism (ESM) and much larger than most other arrangements in non-European regions.
Trauma to Triumph: Rising from the Ashes of the Asian Financial Crisis
This book takes stock of and analyzes the events during the Asian financial crisis (AFC) and subsequent developments, including the global financial crisis (GFC).
Joint Statement of the 25th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (May 12, 2022, Virtual)
The 25th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3) was convened on 12 May 2022 under the co-chairmanship of H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance of the Kingdom of Cambodia, H.E. Sum Sannisith, Deputy Governor of the National Bank of Cambodia and H.E. Liu Kun, Minister of Finance of the People’s Republic of China, H.E. Chen Yulu, Deputy Governor of the People’s Bank of China.
Capital Flow Management and Macroprudential Policy Measures in the ASEAN+3: Initial Recommendations
The role of capital flows and how they are managed have been controversial issues for ASEAN+3 emerging market economies since the Asian financial crisis.
ASEAN+3 Swap Lines Grow; Better Protecting Against Liquidity Crises
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.
Conditionality in the Context of the CMIM and IMF
Conditionality is an essential supplement to crisis financing programs. However, such conditions have long been debated by scholars and policymakers globally, as to whether they promote economic growth and development or undermine the national sovereignty of borrowers and hinder economic recovery.
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