The Bangko Sentral ng Pilipinas (BSP), other central banks and finance ministries in ASEAN+3 member economies reaffirmed their commitment to regional cooperation amid growing global economic challenges.

This was underscored at the 29th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3) on 3 May 2026 on the sidelines of the Asian Development Bank Annual Meeting in Samarkand, Uzbekistan.

Ongoing initiatives

ASEAN+3 senior officials discussed ongoing initiatives related to the Chiang Mai Initiative Multilateralization (CMIM), the regional financial safety net that provides liquidity support during crises; macroeconomic surveillance work of the ASEAN+3 Macroeconomic Research Office (AMRO); accomplishments under the Asian Bond Markets Initiative (ABMI), which promotes bond markets and cross-border investments in the region; and efforts to advance cross-border digital payments.

BSP Monetary Board Member Rosalia V. de Leon, who served as ASEAN+3 Co-Chair for the BSP, underscored the importance of the Chiang Mai Initiative Multilateralisation (CMIM), together with ASEAN+3 Macroeconomic Research Office’s surveillance and analytical work and other regional cooperation initiatives, in safeguarding regional financial stability.