Asian Monetary Fund on the cards? (Bretton Woods Project)

Asian Monetary Fund on the cards?

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.

Just say no Vocal rejection of Bank, Fund increasing News|Bretton Woods Project|2 July 2007|update 56|url
Member countries are increasingly rebuffing World Bank and IMF programmes, advice and even membership, with Latin American nations withdrawing from the Bank's investment arbitration mechanism. read article...
El Fondo Monetario Asiático en las cartas? News|Bretton Woods Project|1 July 2008|update 61|url
La tan esperada multilateralización de la Iniciativa Chiang Mai fue convenida en mayo de 2008 en Madrid, al tiempo de la reunión anual del Banco de Desarrollo Asiático. read article...