Asean Swap MoU renewed
PETALING JAYA: The memorandum of understanding on the Asean Swap Arrangement (ASA) has been renewed for another two years from Nov 17, 2017.
In a statement, Bank Negara said the Asean central banks and monetary authorities had agreed for the MoU to be renewed, and provided a total of US$2.0bil in financial support.
Governor Tan Sri Muhammad Ibrahim signed the MoU yesterday on behalf of Bank Negara at the sidelines of the IMF Annual Meetings in Washington.
The ASA, established in 1977, signifies a long-standing tradition in Asean financial co-operation. “ASA is part of the regional initiatives to promote financial stability through the provision of short-term liquidity support for member countries which are experiencing temporary balance of payment difficulties,” the central bank noted.