Finance Ministers and ASEAN Central Bank Governors Reaffirm Financial Commitment
Jakarta (ANTARA) - ASEAN finance ministers and central bank governors have reaffirmed the region’s commitment to strengthening financial resilience and cooperation amid rising global uncertainties.
“As geopolitical tensions intensify, unity becomes more important than ever. Our collective resolve sends a strong signal to the world that we remain resilient in the face of challenges,” said Philippine Finance Minister Frederick D. Go in an official ASEAN 2026 statement received in Jakarta on Monday.
Meanwhile, Central Bank Governor of the Philippines Eli M. Remolona, Jr. emphasised ASEAN’s unique strength in unity. “In a more fragmented world, ASEAN’s advantage is our strength in working together.”
The ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) brought together finance ministers and central bank governors from ASEAN member countries to discuss global and regional economic developments amid rising geopolitical uncertainties, financial market volatility, and rapid technological changes.
The meeting stressed the importance of sound macroeconomic policies, strengthened policy coordination, and ongoing vigilance against external risks to maintain regional financial stability.
They welcomed progress on the ASEAN financial cooperation work programme, reaffirming their commitment to deepening financial integration and enhancing regional resilience.
Initiatives on payment connectivity, capital market development, and financial health were highlighted as top priorities supporting the Philippines’ Economic Outcomes Priorities under the ASEAN financial track.
The ministers and governors also emphasised the importance of advancing cross-border payment connectivity to facilitate trade, investment, tourism, and remittances.
They welcomed the Nexus Project, existing bilateral and multilateral payment linkages, and other connectivity initiatives, while underscoring the importance of sustained cooperation in interoperability, regulatory alignment, data governance, consumer protection, and responsible innovation in digital finance, including the safe and trustworthy use of AI and new technologies.
The meeting also reaffirmed commitment to mobilising private capital, strengthening climate risk management, and enhancing financial system resilience.
On that occasion, the ASEAN+3 Deputy Finance Ministers and Central Bank Deputies Meeting was also held, where senior officials from 11 ASEAN member countries and China (including Hong Kong), Japan, and Korea discussed strengthening regional resilience through enhanced ASEAN+3 financial cooperation, including financial safety nets and bond market initiatives.
The ministers and governors welcomed engagement from external partners, including the US, the European Union, and the ASEAN Business Council, and appreciated the Philippines for the successful AFMGM and related meetings.
The AFMGM was held virtually from 7-11 April 2026, with the Philippines as the ASEAN Chair.
Most ASEAN meetings this year have shifted to virtual format due to the energy supply crisis stemming from the Middle East conflict.