ASEAN plans special fund

ASEAN plans special fund

KUALA LUMPUR, Malaysia (AP): Southeast Asian nations will set
up a special fund to help nations hurt by the recent fall of
their currencies, according to Malaysian Finance Minister Anwar
Ibrahim.

The Malaysian ringgit, the Thai bhat, the Filipino peso and
Indonesian rupiah are among regional currencies that have
depreciated recently.

Anwar, who is also deputy prime minister, did not give details
of the fund in his comments Sunday night at a dinner for visiting
Indonesian Finance Minister Mar'ie Muhammad.

But he welcomed the fund planned by the Association of
Southeast Asian Nations, or ASEAN, a regional trade group. Its
members are Indonesia, Malaysia, Thailand, Brunei, Singapore,
Myanmar, Vietnam, Laos and the Philippines.

Anwar said ASEAN members cooperated during the recent fall of
the currencies of several Southeast Asian countries.

The ringgit fell from 2.52 to the U.S. dollar seven weeks ago
to about 2.78.