ASEAN+3 Finance Ministers agreed to establish an independent regional
surveillance unit to promote objective economic monitoring.
Chiang Mai Initiative Multilateralisation (CMIM) Agreement came into effect.
ASEAN+3 Macroeconomic Research Office (AMRO) was established in Singapore
(First Director: Wei Ben Hua)
The enhanced CMIM Agreement came into effect. Key points of the enhancement include
(i) doubling the CMIM’s fund size to US$240 billion, (ii) introduction of the CMIM Precautionary Line,
(iii) increase of the IMF delinked portion from 20% to 30%
ASEAN+3 member authorities successfully completed the signing of the treaty
(AMRO Agreement) to transform AMRO into an international organisation.
AMRO Agreement came into effect, thereby establishing AMRO as an international organisation.