ASEAN does not prioritise common currency: official
Jakarta (VNA) – ASEAN Secretary General Kao Kim Hourn on March 13 said a common currency and monetary union for the region are not a priority right now, as there are many other agendas that need attention.
Speaking at a public lecture at Universitas Pelita
Harapan, Tangerang, Banten, he highlighted that post-pandemic recovery
is the top priority in ASEAN today.
He said the idea of monetary union has
been discussed over the past 20 years. However, there's still a long way to go
because there are other priorities now.
In addition to post-pandemic recovery, the other current priorities are ASEAN
connectivity, the blue economy agenda, and increasing intra-ASEAN trade, he emphasised.
Indonesia, which is serving as the ASEAN chair this year, has proposed the
development of regional payment connectivity for supporting cross-border
payments in the region.
The central banks and financial authorities of five countries - Thailand,
Indonesia, Malaysia, the Philippines, and Singapore — have signed a memorandum of
understanding on boosting regional cross-border payments. The QR code systems
of the five countries are expected to be linked to achieve this./.