The Bangko Sentral ng Pilipinas (BSP) and other central banks and finance ministries in ASEAN+3 economies reaffirmed their commitment to regional financial cooperation amid rising global economic uncertainty and market volatility.
The commitment was reiterated during the 29th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting held on 3 May 2026 on the sidelines of the Asian Development Bank Annual Meeting in Samarkand, Uzbekistan.
ASEAN+3 officials discussed ongoing initiatives involving the Chiang Mai Initiative Multilateralization, the region’s financial safety net designed to provide liquidity support during crises, as well as surveillance work by the ASEAN+3 Macroeconomic Research Office, developments under the Asian Bond Markets Initiative and efforts to advance cross-border digital payments.
The joint statement issued after the meeting said member economies remained committed to sustained policy dialogue to safeguard macroeconomic and financial stability while remaining vigilant against excessive market volatility and shifts in global liquidity conditions.
The statement also underscored the region’s commitment to maintaining open trade and investment flows, resilient supply chains and a rules-based multilateral trading system.
ASEAN+3 economies also agreed on a three-year roadmap for disaster risk financing from 2026 to 2028 to support national disaster risk financing strategies and promote the use of instruments such as disaster insurance and catastrophe bonds.
The Philippines likewise backed continued efforts to deepen and broaden regional capital markets under the Asian Bond Markets Initiative, citing its role in mobilizing long-term financing, promoting local currency bond markets and strengthening regional financial stability.
BSP Monetary Board Member Rosalia V. De Leon, who served as ASEAN+3 co-chair for the BSP, highlighted the importance of strengthening regional financial arrangements and surveillance mechanisms.
“By advancing these mutually reinforcing pillars, we are not only responding to emerging risks but also fortifying our collective resilience as we navigate an increasingly complex global environment,” De Leon said.