|
The long-awaited multilateralisation of the Chiang Mai initiative was agreed in early May in Madrid on the sidelines of the Asian Development Bank annual meeting. The Chiang Mai initiative is a series of bilateral agreements among the 10 members of the Association of Southeast Asian Nations (ASEAN) and neighbours South Korea, China and Japan (see Update 56, 52, 46). The so called ASEAN+3 group agreed to set up an $80 billion fund with 80 per cent of the money coming from the non-ASEAN members. Full details of surveillance mechanisms and conditions for use of the money have not yet been settled. Separately India signed a $3 billion bilateral currency swap arrangement with Japan. This text may be freely used providing the source is credited. This page is: <http://brettonwoodsproject.org/art.shtml?x=561802> Published: 17 June 2008 , last edited: 17 June 2008 Viewings since posted: 5036 |
Articles: 3365 Επίκεντρο η Ελλάδα (Articles in Greek) Recent briefings & reports
Gender WDR: Limits, gaps, and fudges 8 February 2012
Time for a new consensus: Regulating financial flows for stability and development 15 December 2011
Breaking the Mould: How Latin America is coping with volatile capital flows 15 December 2011
No fairy tale: Singrauli, India, still suffering years after World Bank coal investments 18 November 2011
Climate Investment Funds Monitor: October 2011 27 October 2011
Power surge: Lessons for the World Bank from Indian women's participation in energy projects 21 September 2011 Newswire |
home | subscribe | donate | search | help | contact
RSS.91: highlights | newswire |
validate: | XHTML | CSS | RSS | 508
powered by Action Apps | hosted by GreenNet | Credits