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The Association of Southeast Asian Nations (Asean) has renewed for the fifth time the short-term foreign exchange liquidity support for member countries experiencing balance of payments difficulties.

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From being a user of the resources of the International Monetary Fund for decades, the Philippines has attained creditor status, with half of its $251.5-million contribution to the IMF as of December tapped to help European countries such as Ireland, Portugal and Greece ease the impact of the financial crisis in the euro zone, the Bangko Sentral ng Pilipinas (BSP) said yesterday.
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CHIANG MAI INITIATIVE MULTILATERALIZATION

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abtest

Asean renews forex liquidity support program

October 24, 2015 - 10:00am

The Association of Southeast Asian Nations (Asean) has renewed for the fifth time the short-term foreign exchange liquidity...

Business

Asean + 3 sets up reg’l surveillance unit

By Kathleen A. Martin | October 13, 2014 - 12:00am

Members of the Association of Southeast Asian Nations Plus Three (ASEAN+3) have beefed up a regional surveillance unit to better guard against possible emerging risks, the Bangko Sentral ng Pilipinas said.

Business

Expanded currency swap deal with Japan to shield Phl

By Kathleen A. Martin | December 16, 2013 - 12:00am

The newly expanded currency swap deal with Japan will further boost the country’s defenses in times of economic crisis, the Bangko Sentral ng Pilipinas (BSP) said over the weekend.

Business

ADB concludes 45th annual meeting

By Jovan Cerda | May 5, 2012 - 10:00pm

The Asian Development Bank (ADB) concluded on Saturday the 45th annual meeting of its board of governors, with Delhi, India chosen as the host next year. 

ADB says poverty primary challenge in Asia

May 5, 2012 - 9:00pm

Asia is confronted with a number of tough challenges, with poverty as the region's number one challenge, Asian Development Bank (ADB) President Haruhiko Kuroda said at the closing ceremony of the 45th Annual Meeting...

Phl now a creditor nation

By Lawrence Agcaoili | February 22, 2012 - 12:00am

From being a user of the resources of the International Monetary Fund for decades, the Philippines has attained creditor status, with half of its $251.5-million contribution to the IMF as of December tapped to help...

Headlines

ASEAN+3 currency swap arrangement's research office officially opened

February 1, 2012 - 12:00am

The ASEAN+3 Macroeconomic Research Office was officially opened in Singapore on Tuesday as an independent macroeconomic surveillance unit of the Chiang Mai Initiative Multilateralization (CMIM) Agreement, the ...

'ASEAN+3 to be major channel for East Asia integration'

November 14, 2011 - 11:23pm

ASEAN Plus China, Japan and Republic of Korea (ROK) (ASEAN+3) should be the major channel for East Asia integration amid the fragile world economic situation, Chinese ambassador to Indonesia Zhang Qiyue said on...

ASEAN to move forward on firm foundation, yet challenges remain

October 31, 2010 - 11:00am

The master plan and declarations passed at the just-concluded 17th ASEAN Summit and related summits created a firm foundation for the region to move forward, but challenges remain.

ASEAN shows strong commitments to build ASEAN Community by 2015

April 9, 2010 - 11:00pm

The 16th Association of Southeast Asia Nations (ASEAN) Summit concluded here on Friday with a chairman's statement which shows strong commitments of all member countries to build a sustained ASEAN Community in ...