On May 3, 2021, a Delegation from the State Bank of Vietnam (SBV) attended the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3), which was co-organized in virtual format by South Korea and Brunei Darussalam.
Delegates at the Meeting (screenshot)
The delegates in the Meeting included Central Bank Governors, Finance Ministers, representatives from the ASEAN+3 Macroeconomic Research Office (AMRO), the ASEAN Secretariat, the Asian Development Bank (ADB) and the International Monetary Fund (IMF).
At the Meeting, the Central Bank Governors and Finance Ministers focused on discussing the following topics: (i) the situations and the outlooks of the global and regional macro-economy, policy measures to handle with the challenges and risks, including the COVID-19 pandemic; (ii) activities aimed to enhance the cooperation in the financial sector through the frameworks of multilateral initiatives in the region, such as the Chiang Mai Initiative Multilateralization (CMIM), AMRO, the Asian Bond Markets Initiative (ABMI), the Strategic Directions of the ASEAN+3 Finance Process; and (iii) adoption of the Joint Statement of the Meeting.
Regarding to the cooperation directions in the coming time, the delegates reached an agreement to establish four Working Groups to formulate the cooperation frameworks in the future, namely (i) Infrastructure Financing, (ii) Macro-structural Instruments, (iii) Strengthening Financial Resilience against Natural Disasters, and (iv) Enhancing Policy Coordination for Technological Advancement.
Le Hang