ASEAN+3 cooperation

Bangko Sentral ng Pilipinas Governor Benjamin Diokno (fifth row, left), with counterparts at the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting, welcomes the progress of regional financial cooperation. Key developments include the enhancements to the Chiang Mai Initiative Multilateralization; strengthened regional policy advisory role of the ASEAN+3 Macroeconomic Research Office; significant advancements in the regional bond market under the Asian Bond Markets Initiative; and adoption of new initiatives in the areas of financial digitalization and transition finance to foster the region’s economic growth and financial integration.