Asean+3 nations discuss currency swap policy, financial cooperation ...Middle East

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Asean+3 nations discuss currency swap policy, financial cooperation
SEOUL: Vice finance ministers of South Korea, China, Japan and the Association of Southeast Asian Nations (ASEAN) have agreed to improve a currency swap mechanism as part of efforts to boost overall financial cooperation, Seoul’s Ministry of Economy and Finance said Friday.The consensus was reached during the two-day regular meeting of the vice ministers, as well as senior representatives from their central banks, held in the Japanese city of Kanazawa from Wednesday, reported Yonhap news agency.The officials decided to push for the launch of the Rapid Financing Facility (RFF) under their Chiang Mai Initiative Multilateralisation (CMIM) agreement, which provides prompt financial assistance to

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