Asean Swap MoU re­newed

The Star Malaysia - StarBiz - - News -

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.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.