The Dej-Udom & Associates Thailand-ASEAN Newsletter for April 2016
ASEAN Economic Community News
ASEAN+3 Financial Safety Net
Finance ministers and central bank bosses from the ASEAN member states and Japan, China, and South Korea agreed to enhance a regional financial safety net to prevent any crises and to help promote economic growth. To support regional economic and financial stability, the group plans to closely monitor capital flows and risks stemming from capital flow volatility and respond appropriately to the changing economic environment and financial market volatility. They also agreed to enhance the 2010 Chiang Mai Initiative Multilateralization scheme which provides credit liquidity in financial markets at times of unusual volatility.