ASEAN to increase swap fund<\/p>\n
BANGKOK (Dow Jones): The Thai central bank said Thursday that
\ncentral banks of members of the Association of Southeast Asian
\nNations have agreed to increase the size of the fund that has
\nbeen set up to help member nations with balance of payment
\nproblems.<\/p>\n
The fund, known as Asean Swap Arrangement, or ASA, was
\nincreased to US$1 billion from $200 million, Deputy Central Bank
\nGovernor Pakorn Malakul Nelieve that nation members may tap into
\nthe fund once it becomes bigger, Pakorn said.<\/p>\n
The fund was set up in 1977 by the founding members of Asean -
\nIndonesia, Malaysia, the Philippines, Singapore, and Thailand.<\/p>\n
Other non-founding members of Asean will make their
\ncontributions to the fund on an equal basis and will be entitled
\nto borrow from it, Pakorn added. ASA allows nation members to
\nborrow from the fund twice the size of their contributions for a
\nsix-month period only.<\/p>\n
The other Asean members are Brunei, Cambodia, Laos, Myanmar
\nand Vietnam.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asean-to-increase-swap-fund-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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