BANGKOK, THAILAND: Asian finance ministers pledged Sunday (22 Feb) to uphold free trade and investment in the midst of the global economic slowdown and said they would allocate an additional $40 billion to protect falling currencies. The ministers from 10 Southeast Asian nations as well as China, Japan and South Korea agreed to boost funding [...]
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ASEAN+3 to cushion financial meltdown
February 23rd, 2009 
Cambodian News Finance ministers of Southeast Asian nations, as well as Japan, China and South Korea, agreed Sunday on steps to prevent the region falling into financial meltdown. In its joint statement after a meeting in the Thai resort island of Phuket, the ASEAN+3 countries agreed to prepare the precautionary measures by expanding their cooperation fund to [...]
Asian finance officials agree currency swap deal
February 23rd, 2009 Cambodian News PHUKET: Asian finance officials agreed in principle on Sunday to expand a currency swap agreement to help bolster their currencies in the global economic crisis. The ministers and senior officials agreed to set up a multilateral swap fund totalling $120 billion, up from the $80 billion proposed last year, Surin Pitsuwan, secretary-general of the Association [...]
ASEAN+3 reaches agreement on reserve for stability
February 23rd, 2009 Cambodian News PHUKET, Thailand — Finance ministers from the ASEAN plus three countries agreed Sunday to speed up the process of operationalising the Chiang Mai Initiative Multilateralization (CMIM), a regional foreign reserve pool in case of currency flow shortage. The agreement was reached at a special meeting on Sunday in Phuket in southern Thailand in a bid [...]