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ASEAN+3 plans to boost emergency fund

05-04-2012 10:05 BJT

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The finance chiefs from the three economies are working with their ASEAN counterparts to boost their emergency fund scheme.

Deputies have reportedly agreed on strengthening the Chiang Mai Initiative Multi-lateralisation Program, a pool of currency swaps launched about a decade ago.

The 13 countries are likely to seek endorsement on doubling the size of the scheme to 240 billion U.S. dollars, aiming to reduce the amount tied to IMF programs from 80 to 70 percent. They also want to extend the maturities of swaps under the program from 90 days to up to 12 months.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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