Asean+3 expands access to mutual swap line
Amro says new facility can provide emergency liquidity following natural disasters or pandemics
Economies within Asean+3 – the Association of Southeast Asian Nations (Asean) members plus China, Japan and South Korea – can now use their multilateral swap line to access emergency liquidity in response to urgent balance-of-payments problems caused by shocks.
The Asean+3 Macroeconomic Research Office (Amro) announced on November 11 that the Chiang Mai Initiative Multilateralisation (CMIM) swap line had been amended to include a rapid financing facility. This would allow Asean+3 members – though
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