Regional Financing Arrangements (RFAs) need to work closely together to fully deploy their individual capabilities and strengthen synergies, highlighted by participants at the 2nd Joint Regional Financing Arrangements Research Seminar in Colombia.
While ASEAN+3 region deserves credit for harnessing global trade, investment and capital flows, there is a need to augment the export-led growth strategy which has served ASEAN+3 economies so well for so many decades.
Boosted by favorable global conditions, the ASEAN+3 region sees brighter economic prospects. Policymakers should endeavor to rebuild policy space while recognising the constraints from domestic and external vulnerabilities
In her latest blog, AMRO Director Dr Junhong Chang argues that in today’s highly interconnected global economy and financial markets, strengthening regional financial cooperation is crucial to securing regional financial stability.