ASEAN will study impact of hot money<\/p>\n
HANOI (Reuters): Southeast Asian nations will study the
\npossibility of setting up a mechanism to protect the region from
\nthe shocks associated with hot money flows, Indonesia's top
\neconomics minister said on Sunday.<\/p>\n
Ginandjar Kartasasmita, coordinating minister for economy,
\nfinance and industry, said in an interview the Association of
\nSoutheast Asian Nations (ASEAN) would examine ways of monitoring
\ncapital flows.<\/p>\n
\"There will be an agreement for ASEAN to study how we can get
\ntogether to set up a mechanism to monitor and in due course to
\nprotect this area from the shocks of short-term capital flows,
\nbut there are no immediate steps in that direction,\" he said.<\/p>\n
Ginandjar was speaking on the sidelines of a meeting between
\nASEAN foreign and economic ministers that has tried to focus on
\ndragging the region out of the doldrums.<\/p>\n
The weekend meetings will be followed on December 15-16 by a
\nsummit of ASEAN leaders.<\/p>\n
In September, Malaysia announced the imposition of capital
\ncontrols to the concern of many foreign investors.<\/p>\n
ASEAN comprises Brunei, Indonesia, Laos, Malaysia, Myanmar,
\nthe Philippines, Singapore, Thailand and Vietnam.<\/p>",
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"sponsor": "Okusi Associates",
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