The Bangko Sentral ng Pilipinas (BSP), alongside the Philippine Department of Finance, Japan’s Ministry of Finance, and the Bank of Japan, hosted the 3rd ASEAN+3 Task Force meeting in Puerto Princesa City. Technical representatives from member authorities gathered to advance regional financial cooperation and stability, with support from the ASEAN+3 Macroeconomic Research Office (AMRO).
Discussions centered on strengthening the Chiang Mai Initiative Multilateralization (CMIM)—the region’s joint safety net—including plans to formalize its Rapid Financing Facility, reviewing results from the 17th CMIM test run, and designing new financing structures. Participants also covered expanding local currency use in cross-border payments, AMRO’s medium-term work plan, the next phase of the Asian Bond and Financial Markets Initiative, disaster risk financing updates, and Timor-Leste’s possible entry into CMIM and AMRO.
These steps align with ASEAN+3’s shared goal of building stronger financial defenses and better readiness against future economic shocks, underscoring the Philippines’ key role in shaping a more secure and integrated regional financial system.
