To ensure the effective implementation of crisis prevention and liquidity support in times of crisis, it is essential for the authorities to monitor closely the regional economy and financial markets, and exchange their views on respective macroeconomic policies. The ASEAN+3 authorities thus established their own but independent surveillance unit, called the ASEAN+3 Macroeconomic Research Office (AMRO), in Singapore in April 2011.
In addition, the toplevel Finance Ministers’ Meeting will be expanded from 2012 to include the region’s central bank governors in the Finance Ministers’ and Central Bank Governors’ Meeting. Remaining challenges However, challenges remain. Although there have been improvements in some areas, as I have mentioned, I would like to raise the following five points.