ASEAN plus Japan , the Republic of Korea (RoK) and China as well as the Asian Development Bank (ADB) are preparing mutual funds to secure a private bond market.
The fund is called the Credit Guarantee and Investment Facility (CGIF) valued at 700 million USD, said Acting Head of the Fiscal Policy Agency at Indonesia 's Finance Ministry Bambang Brodjonegoro, while presenting results of the 15th ASEAN Finance Ministers' Meeting (AFMM) in the Indonesian province of Bali on April 7-8.
The Association of Southeast Asian Nations (ASEAN) plus Japan, China and the RoK are aware of the importance to guard stability of financial markets, thus the ASEAN+3 and the ADB agreed to form the CGIF to curb emerging volatilities that could depress the bond price, he said.
He said that the CGIF is also part of the Roadmap for Monetary and Financial Integration of the ASEAN, he added./.
The fund is called the Credit Guarantee and Investment Facility (CGIF) valued at 700 million USD, said Acting Head of the Fiscal Policy Agency at Indonesia 's Finance Ministry Bambang Brodjonegoro, while presenting results of the 15th ASEAN Finance Ministers' Meeting (AFMM) in the Indonesian province of Bali on April 7-8.
The Association of Southeast Asian Nations (ASEAN) plus Japan, China and the RoK are aware of the importance to guard stability of financial markets, thus the ASEAN+3 and the ADB agreed to form the CGIF to curb emerging volatilities that could depress the bond price, he said.
He said that the CGIF is also part of the Roadmap for Monetary and Financial Integration of the ASEAN, he added./.
