ASEAN+3 Macroeconomic Research Office opens in Singapore

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AMRO is the independent macroeconomic surveillance unit of Chiang Mai Initiative Multi-lateralization (CMIM) Agreement, a US$120 billion currency swap arrangement among the Finance Ministries and Central Banks of the ASEAN Member States, China, Japan and the Republic of Korea (ASEAN 3 countries).

AMRO is responsible for monitoring the macroeconomic and financial situation of, and identifying emerging vulnerabilities within, the ASEAN 3 region and its individual economies.

AMRO's reports are produced on a quarterly basis and tabled biannually for discussion at the Economic Review and Policy Dialogue session of the ASEAN 3 Finance and Central Bank Deputies' Meetings.

In his speech, AMRO Director Wei Benhua said that amid the extremely uncertain global economic and financial prospects, AMRO is fully vigilant on developments in Europe and the world and their potential impact on the ASEAN 3 members.

According to Mr. Wei, AMRO will play its part to help safeguard the ASEAN 3 countries from these global uncertainties and contribute to the stability, growth and prosperity of the region, together with international financial institutions such as the International Monetary Fund (IMF) and the Asian Development Bank (ADB)./.