Press Release Signing of the Agreement Establishing ASEAN+3 Macroeconomic Research Office (“AMRO Agreement”) 10th October, 2014, Washington D.C. 1. ASEAN+3 members on 10th October 2014 (Friday) signed the AMRO Agreement in Washington D.C. at the margin of IMF/World Bank Group Annual Meetings. Malaysia was represented by YB Dato’ Chua Tee Yong, Deputy Minister of Finance, who signed the agreement on behalf of the Government of Malaysia. 2. ASEAN+3 Macroeconomic Research Office (AMRO) was established as a company limited in Singapore in April 2011 by ASEAN+3 countries (ASEAN & China, Japan and Korea) as an independent regional surveillance unit to monitor and analyse regional economies and support Chiang Mai Initiative Multilateralisation (CMIM) decision-making. The CMIM is a multilateral currency swap arrangement among ASEAN+3 members, which became effective on 24 March 2010, having developed from the CMI bilateral swap network, with core objectives of addressing actual and potential balance of payment and/or short-term liquidity difficulties in the ASEAN+3 region and supplementing the existing international financial arrangements, with a total financial support size of US$240 billion. 3. The ASEAN+3 Finance Ministers and Central Bank Governors at the 17th meeting in May 2013 reached its consensus on the draft of AMRO Agreement to institutionalise AMRO as an international organisation. Since then, member countries have taken necessary steps for the signing of
Posted on: Fri, 10 Oct 2014 20:19:56 +0000
Trending Topics
Recently Viewed Topics
© 2015