Wednesday, 29 Apr 2020 07:58 PM MYT
Moreover, it said divergent national policies, even if they are all in the same direction of monetary easing, could add to financial market volatility. Although the initiative has never been used, it said the regional effort could complement rather than substitute national effort, which generally rely on their foreign reserve and borrow from the International Monetary Fund as the last resort.
ASEAN+3 comprises the 10 Asean member states and their dialogue partners—China, Japan, and South Korea.
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