(Jakarta, 6th) Indonesian Finance Minister Sri Mulyani stated that ASEAN+3 can serve as a representative platform for the region, helping to ease regional tensions and provide greater certainty amid escalating global challenges. The 'ASEAN+3' Finance Ministers and Central Bank Governors meeting, consisting of ASEAN's 10 countries along with China, Japan, and South Korea, held its 28th meeting this Monday in Milan, Italy.
"Indonesia is committed to continuing to play an active role in supporting the welfare of the ASEAN+3 region and strengthening cooperation with the United States and multilateral institutions," Sri Mulyani stated in a post on her social media platform Instagram. She also welcomed the ongoing discussions regarding the 'Chiang Mai Initiative'. This initiative is a multilateral currency swap mechanism encompassing all ASEAN+3 member countries, aimed at strengthening the regional financial safety net.
She hopes that the initiatives promoted during Indonesia and Japan's respective tenures as the rotating chair of ASEAN+3 can continue to move forward, further consolidating regional financial cooperation and security mechanisms. During the two-day meeting, Sri Mulyani emphasized the importance of not only understanding 'what is' good fiscal policy but more importantly, understanding 'how to implement it effectively'.
She cited case studies provided by the 'ASEAN+3 Macroeconomic Research Office' (AMRO), pointing out that the fiscal policies of member countries play a key role in promoting national economic growth and maintaining fiscal sustainability, while policy formulation must also consider national circumstances.
"Learning from other countries' experiences in addressing domestic challenges is one of the keys to achieving sustainable economic stability and growth," she said
"Indonesia is committed to continuing to play an active role in supporting the welfare of the ASEAN+3 region and strengthening cooperation with the United States and multilateral institutions," Sri Mulyani stated in a post on her social media platform Instagram. She also welcomed the ongoing discussions regarding the 'Chiang Mai Initiative'. This initiative is a multilateral currency swap mechanism encompassing all ASEAN+3 member countries, aimed at strengthening the regional financial safety net.
She hopes that the initiatives promoted during Indonesia and Japan's respective tenures as the rotating chair of ASEAN+3 can continue to move forward, further consolidating regional financial cooperation and security mechanisms. During the two-day meeting, Sri Mulyani emphasized the importance of not only understanding 'what is' good fiscal policy but more importantly, understanding 'how to implement it effectively'.
She cited case studies provided by the 'ASEAN+3 Macroeconomic Research Office' (AMRO), pointing out that the fiscal policies of member countries play a key role in promoting national economic growth and maintaining fiscal sustainability, while policy formulation must also consider national circumstances.
"Learning from other countries' experiences in addressing domestic challenges is one of the keys to achieving sustainable economic stability and growth," she said