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 ASEAN Finance Ministers, Central Bank Governors organize seventh virtual meeting

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CBM Governor U Than Nyein joins the 7th ASEAN Finance Ministers Central Bank Governors meeting online yesterday.

The Dialogue of ASEAN Finance Ministers, Central Bank Governors and International Financial Organizations, 17th ASEAN Central Bank Governors’ Meeting (ACGM) and 7th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) were virtually held yesterday.
The meetings were attended by ASEAN Finance Ministers, Central Bank Governors, Officials of IMF, CBM Governor U Than Nyein and Vice-Governors U Win Thaw and Daw Than Than Swe.
The dialogue of ASEAN Finance Minister, Central Bank Governors and International Financial Organizations was held in the morning and joined by AIIB Chairman Mr Jin Liquan under the topic of “Enhancing Digital Infrastructure in the New Normal,” while ADB President Mr Masutsugu Asakawa briefed about “Supporting a Swift and Sustained Recovery in ASEAN,” Deputy Managing Director of IMF Mr Mitsuhiro Furusawa about “Global and Regional Economic Outlook and Policy Advice to Foster a Greener and More Equitable Recovery”,
Managing Director of WB Ms Mari E Pangestu about “Initiatives and Collaborative Efforts to Ensure Recovery and Subsequently Long-Term Growth” and Director of ASEAN+3 Macroeconomic Research Office (AMRO) Mr Toshinori Doi about “Regional Outlook, Risk and Opportunities”.
The ASEAN Finance Ministers and Central Bank Governors exchanged views on ASEAN regions’ sustainable finance, digital infrastructures, COVID-19 responses, monetary policy, and fiscal policy.
Then, the 17th ASEAN Central Bank Governors’ Meeting (ACGM) was held, and Deputy Managing Director of Brunei Ms Noorafidah Sulaiman presented ASEAN Financial Services Liberation (FSL), ASEAN Banking Integration Framework (ABIF), ASEAN Payment and Settlement Systems (PSS) and ASEAN Capital Account Liberation under ASEAN Senior Level Committee on Financial Integration.
The ASEAN Central Bank Governors discussed financial services liberation, the signing of the 9th Protocol this year, the ABIF agreement and supervisory agreement in 2022 and other directives to improve financial services in ASEAN regions.
During the meeting, CBM Governor U Than Nyein highlighted the good opportunities of the 17th ASEAN Central Bank Governors’ Meeting, Supplemental MOU on ASEAN Cybersecurity Resilience and Information Sharing Platform (CRISP), Financial Integration, Financial Inclusion and Financial Stability to meet the goals of ASEAN Economic Community 2025.
Then, the 7th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting was held. Brunei, Chair of ASEAN for 2021, briefed their priority sectors.  The Business Advisory Councils Dialogues were organized together with ASEAN Finance Ministers, Central Bank Governors, ASEAN Secretary-General, ASEAN-Business Advisory Councwil (BAC), EU-ASEAN BAC, US-ASEAN BAC.
The ASEAN Secretary-General briefed matters related to AEC Blueprint 2025.
The joint-chairpersons of the deputies of ASEAN finance and central banks meeting continued to discuss working progress and action plans regarding the ASEAN finance and financial integration. After that, they finalized the joint statement of the 7th AFMGM. The 2022 ASEAN Central Banks Governors’ Meeting and Deputies of ASEAN Central Banks and its associate meetings are scheduled to hold in Cambodia as the alternative host. — MNA

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