The 24th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3) was convened on 3 May 2021 under the co-chairmanship of H.E. Dato Ahmaddin Abdul Rahman, Deputy Minister of Finance and Economy (Fiscal) of Brunei Darussalam, H.E. Rokiah Badar, Managing Director of Autoriti Monetari Brunei Darussalam and H.E. Nam-Ki Hong, Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea, H.E. Juyeol Lee, Governor of the Bank of Korea. The meeting was held in virtual format under the extraordinary circumstances due to the COVID-19 pandemic. The President of the Asian Development Bank (ADB), the Director of the ASEAN+3 Macroeconomic Research Office (AMRO), the Secretary-General of ASEAN, and the Deputy Managing Director of the International Monetary Fund (IMF) were also present at our meeting.
We exchanged views on current developments and the outlook for the global and regional economies, as well as policy responses to risks and challenges. We acknowledge that the ASEAN+3 regional cooperation is becoming more important to support the regional economies overcoming COVID-19 and preparing for the post pandemic era. In this respect, we agreed to continue working together to enhance regional financial cooperation, including through the Chiang Mai Initiative Multilateralisation (CMIM), AMRO, Asian Bond Markets Initiative (ABMI) and Strategic Directions of the ASEAN+3 Finance Process.
