Asean+3 to launch new financing facility

Thirteen Asian states say fund will deal with exogenous shocks’ effects on balance of payments

asia pacific

The ‘Asean+3’ governments, consisting of China, Japan, South Korea, and members of the Association of Southeast Asian Nations, have agreed to launch a new financing facility.

Asean’s members are Thailand, Vietnam, Indonesia, Cambodia, Brunei, Myanmar, Malaysia, Laos, the Philippines, and Singapore. The group’s 13 countries also agreed in principle to look at changing to a paid-in capital structure for their existing multilateral currency swap arrangements.

Financial ministers and central bank

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