{
    "success": true,
    "data": {
        "id": 1303790,
        "msgid": "asean-swap-plan-needs-20b-1447893297",
        "date": "2000-05-04 00:00:00",
        "title": "ASEAN swap plan needs $20b",
        "author": null,
        "source": "DJ",
        "tags": null,
        "topic": null,
        "summary": "ASEAN swap plan needs $20b BANGKOK (Dow Jones): The Association of Southeast Asian Nations (ASEAN) needs to greatly increase the scope of its currency swap plan with its northern neighbors, China, South Korea, and Japan, for it to work, Japan's former Vice Finance Minister for International Affairs Eisuke Sakakibara said Wednesday.",
        "content": "<p>ASEAN swap plan needs $20b<\/p>\n<p>BANGKOK (Dow Jones): The Association of Southeast Asian<br>\nNations (ASEAN) needs to greatly increase the scope of its<br>\ncurrency swap plan with its northern neighbors, China, South<br>\nKorea, and Japan, for it to work, Japan's former Vice Finance<br>\nMinister for International Affairs Eisuke Sakakibara said<br>\nWednesday.<\/p>\n<p>Speaking ahead of the Asian Development Bank's annual meeting<br>\nthis weekend, Sakakibara noted that the proposed figure of $200<br>\nmillion for the swaps plan was too small.<\/p>\n<p>\"We need to have at least $20 billion,\" he said. \"Then it will<br>\nbe quite effective.\"<\/p>\n<p>ASEAN is seeking to set up a currency swaps program with<br>\nChina, South Korea, and Japan to build a pool of foreign exchange<br>\nreserves that could be used to fight off speculative attacks on<br>\ncurrencies in the region.<\/p>\n<p>Separately, Sakakibara reiterated his support for the creation<br>\nof an Asian Monetary Fund, which would act as a lender of last<br>\nresort during economic crises in the region.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/asean-swap-plan-needs-20b-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}