Launching a loan restructuring program, or similar initiatives such as loan repayment assistance or a loan moratorium, is common practice among ASEAN+3 governments responding to the financial distress caused by the COVID-19 pandemic.
This paper quantifies the likelihood of spillovers to emerging ASEAN-4 economies and Korea from shifts in US monetary policy.
The cases of the Philippines and Indonesia are among the reasons why the CMIM has never been tapped.
During a visit in early November, AMRO staff met with market participants in Tokyo to seek their views on recent developments in Japan’s financial markets and risks to the outlook.
Since 1958, two years after joining the International Monetary Fund (IMF),
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.
The COVID-19 pandemic brought widespread concern and financial distress to individuals and businesses − and ASEAN+3 governments responded with a wide array of macro-financial measures.
One of the longest-held notions in the financial markets is that the Japanese yen (JPY) is a safe-haven currency.
The US Federal Reserve’s (“Fed’s”) monetary policy tightening has roiled markets most of this year.
Hawkish shifts in the US Federal Reserve’s monetary policy have often led to heightened financial and economic stress in emerging economies.
