Laos to host ASEAN+3 Finance and Central Bank Deputies’ Meeting on March 3-4
The ASEAN+3 Finance and Central Bank Deputies’ Meeting will take place in Luang Prabang, Laos, on April 3 and 4, with delegates from ASEAN member states, the Republic of Korea, China and Japan expected to discuss a multilateral currency swap agreement and measures to enhance financial cooperation.
An overview of an ASEAN+3 Finance and Central Banks' Deputies Meeting held in Japan in 2023. (Photo: aseanplusthree.asean.org)
Hanoi (VNA) – The ASEAN+3 Finance and Central Bank Deputies’ Meetingwill take place in Luang Prabang, Laos, on April 3 and 4, with delegates from ASEANmember states, the Republic of Korea, China and Japan expected to discuss a multilateralcurrency swap agreement and measures to enhance financial cooperation.
Participants will also exchange views onhow to better use and develop their Chiang Mai Initiative Multilateralisation(CMIM), a 240-billion-USD pool launched in 2010 that can be tapped throughcurrency swap deals in times of a financial crisis.
A currency swap is a tool meant to defendagainst financial turmoil by allowing a country beset by a liquidity crunch toborrow money from others with its own currency.
The participants will also exchangeopinions on the global and regional economic situation and policy responses.
The Association of Southeast Asian Nations (ASEAN) comprises Brunei, Cambodia,Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand andVietnam./.
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An overview of an ASEAN+3 Finance and Central Banks' Deputies Meeting held in Japan in 2023. (Photo: aseanplusthree.asean.org) 
