The 27th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3) was convened on 3 May 2024 under the co-chairmanship of H.E. Santiphab Phomvihane, Minister of Finance of the Lao People’s Democratic Republic, H.E. Bounleua Sinxayvoravong, Governor of the Bank of the Lao People’s Democratic Republic, H.E. Choi Sang-Mok, Minister of Finance of the Republic of Korea, and H.E. Rhee Changyong, Governor of the Bank of Korea. The meeting took place in Tbilisi, Georgia. The Director of the ASEAN+3 Macroeconomic Research Office (AMRO), the President of the Asian Development Bank (ADB), the Deputy Secretary-General of ASEAN Secretariat, and the Deputy Managing Director of the International Monetary Fund (IMF) were also present at the 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 recognize that the ASEAN+3 financial cooperation forum is playing an increasingly essential role in supporting regional economies to address the risks and challenges. In this regard, we agree to strengthen regional financial cooperation, including through the Regional Financing Arrangement (RFA) Future Direction / Chiang Mai Initiative Multilateralisation (CMIM), AMRO, Asian Bond Markets Initiative (ABMI), Disaster Risk Financing (DRF), and ASEAN+3 Future Initiatives.
