Asia live with pooled reserves fund
Participating nations include the 10 members of the Association of Southeast Asian Nations plus China, Japan and South Korea. The arrangement enables the 13 countries to gain financial support through currency swap transactions in times of liquidity shortage, by drawing from a foreign exchange reserves pool worth $120 billion. Its stated purpose is to address balance-of-payment and short-term liquidity difficulties in the region.
The well-flagged scheme was set in motion in the aftermath of the
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