ASEAN+3 Macroeconomic Research Office

Boosting ASEAN+3’s Economic Resilience and Recovery During COVID-19

Post author:amro-admin
Post published:October 15, 2020
Post category:Blogs
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The COVID-19 pandemic continues to cast a long, dark, and uncertain shadow over the outlook for global growth. Deeply plugged into the global value chain, the ASEAN+3 region, comprising the ten members of the Association of Southeast Asian Nations plus China, Japan, and Korea, has been severely affected. Currently, the region is projected to record negative growth in 2020, a large fall compared to the average growth of around 5% over the past few years.

Forging a Stronger Post-Pandemic ASEAN+3 Economy

Post author:amro-admin
Post published:October 5, 2020
Post category:Blogs

TOKYO/HANOI – The modern international financial system emerged from the devastation of World War II. Since then, it has continued to be shaped by historic slumps – most recently, the 2008 global financial crisis.

Joint Statement of the 23rd ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (September 18, 2020, Virtual)

Post author:amro-admin
Post published:September 18, 2020
Post category:ASEAN+3 Joint Statements

We, the Finance Ministers and Central Bank Governors of ASEAN, China, Japan and Korea (ASEAN+3), convened our 23rd meeting under the co-chairmanship of H.E. Dinh Tien Dung, Minister of Finance of the Socialist Republic of Viet Nam, H.E. Le Minh Hung, Governor of the State Bank of Viet Nam, H.E. Aso Taro, Deputy Prime Minister and Minister of Finance of Japan and H.E. Kuroda Haruhiko, Governor of the Bank of Japan.

The Amended Chiang Mai Initiative Multilateralisation (CMIM) Comes Into Effect on June 23, 2020

Post author:amro-admin
Post published:June 23, 2020
Post category:News & Media Press Releases

The amended Chiang Mai Initiative Multilateralisation (CMIM) Agreement, which is a regional financing arrangement among the Finance Ministers and Central Bank Governors of the ASEAN Members States, China, Japan and Korea (ASEAN+3) and the Monetary Authority of Hong Kong, China, came into effect on June 23, 2020.

Towards an ASEAN+3 Region Free of International Financial Crises

Post author:amro-admin
Post published:September 2, 2019
Post category:Blogs

In the three months that I have served as the Director of AMRO, the global economic outlook has become gloomier, dragging down the growth prospects of the ASEAN+3 region.

Further Enhancing the CMIM as a Key Regional Backstop against Future Crises

Post author:amro-admin
Post published:May 22, 2019
Post category:Blogs

The chiefs in charge of finance and monetary authorities in East Asia gathered in early May this year in Fiji to discuss how to further strengthen the regional financing arrangement (RFA), called the Chiang Mai Initiative Multilateralisation (CMIM).

AMRO Participated in the 22nd ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting in Nadi, Fiji

Post author:amro-admin
Post published:May 3, 2019
Post category:News & Media Press Releases

AMRO Director Dr Junhong Chang (first row, first from right) poses for a group photo with ASEAN+3 Finance Ministers and Central Bank Governors at the meeting in Fiji on May 2, 2019.

Joint Statement of the 22nd ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (May 2, 2019, Nadi, Fiji)

Post author:amro-admin
Post published:May 2, 2019
Post category:ASEAN+3 Joint Statements

We, the Finance Ministers and Central Bank Governors of ASEAN, China, Japan and Korea (ASEAN+3), convened our 22nd meeting in Nadi, Fiji under the co-chairmanship of H.E. Apisak Tantivorawong, Minister of Finance of Thailand, and H.E. Liu Kun, Minister of Finance of China.

Possible Modality of Local Currency Contribution to East Asia’s Regional Financing Arrangement

Post author:amro-admin
Post published:January 31, 2019
Post category:Blogs

The Chiang Mai Initiative Multilateralisation (CMIM) is a multilateral currency swap arrangement among ASEAN+3 members, which aims to provide financial support to its members facing balance of payments and/ or short-term liquidity difficulties. Each CMIM member is obliged to contribute a certain amount of resources in U.S. dollars to the arrangement, and in return, is entitled to swap its local currency with the U. S. dollar for an amount up to its contribution multiplied by its purchasing multiplier, when in need. To further improve this mechanism, it is necessary to study the feasibility of allowing local currency contributions to the CMIM arrangements.

Exploring the Plausibility of Local Currency Contribution to East Asia’s Regional Financing Arrangement

Post author:amro-admin
Post published:January 31, 2019
Post category:Blogs

To strengthen macroeconomic and financial stability in the region, ASEAN+3 countries established a regional financing arrangement called the Chiang Mai Initiative Multilateralization (CMIM) to provide U.S. dollar liquidity through currency swap transactions when members experience balance of payments and/or short-term liquidity difficulties.