AF-MGM+3 Meeting: ASEAN+3 Finance Ministers’ & Ctrl Bank Governors’ Meeting

4 May 2021
2021-05-04 11:16

Union Minister for Planning, Finance and Industry U Win Shein attended the 24th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AF-MGM+3) on Monday.  

The meeting was virtually held together with the 54th annual meeting of the Asian Development Bank between 3rd and 5th May. The meeting was conducted under the co-chairmanship of Brunei Darussalam and the Republic of Korea.

During the meeting, the leaders exchanged views on the outlook for the global and regional economies during the COVID-19 pandemic and policy responses to risks and challenges. They also discussed plans to enhance regional financial cooperation together with ASEAN+3, IMF, ADB and AMRO.

The Finance Ministers and Central Bank Governors of ASEAN+3 and the economists of IMF, ADB and AMRO also coordinated the discussion regarding approval for the amendment of Chiang Mai Initiative Multi lateralization (CMIM), the performance of ASEAN + 3 Macroeconomic Research Office (AMRO), progresses of Asian Bond Markets Initiatives (ABMI) and formation of four working groups.

During the meeting, the Union Minister also discussed economic responses to COV-ID-19 being carried out in the country individually or together with ASEAN+3 members and IMF, Comprehensive Economic Stimulus Plan so-called COV-ID-19 Economic Relief Plan (CERP) of the country to revive the businesses hit by COVID-19 and close cooperation with ASE-AN+3 members.

The meeting then approved the Joint Statement. Deputy Minister for Planning, Finance and Industry Daw Than Than Lin virtually joined the Governors’ Seminar on Co-operation for a Resilient Future.

President of ADB, Mr  Masutsugu Asakawa, presided over the meeting and discussed the economic policy transformation and sector-wise development in Asia-Pacific regions, potential responses to revive the border trade, investment and tourism sectors badly hit by COVID-19, rehabilitation processes with digitalization and innovation and regional and international cooperation to overcome the global pandemic. The 25th AFMGM+3 will be held in Colombo of Sri Lanka under the co-chairmanship of Cambodia and China in 2022.


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