The ERPD Matrix “Scorecard”: Quantifying the Macro-Financial Performance of the ASEAN+3 Economies

The Economic Review and Policy Dialogue (ERPD) aims to prevent financial crises through the early detection of risks and vulnerabilities in ASEAN+3 economies and the swift implementation of remedial policy actions. If necessary, it serves as the foundation for providing immediate liquidity assistance to members in the event of a crisis, via the Chiang Mai Initiative Multilateralisation (CMIM). The ERPD Matrix, which is integrated into AMRO’s surveillance framework, is aimed at supporting those objectives. The ERPD Matrix Scorecard is a tool that may be used for both surveillance and CMIM qualification purposes. It comprehensively quantifies a member’s macro-financial performance—external, fiscal, monetary, and financial—relative to that of its designated peer benchmark group, as well as rates the adequacy of data used. However, as with all quantitative methods, the reliability of the Scorecard results is dependent on data adequacy and methodology, and should always be analyzed in conjunction with those obtained using other tools, complemented by staff’s expert judgment.

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