Japan and Malaysia on September 18 signed a mutual currency swap arrangement to allow each side to provide the other up to 3 billion USD to prevent a financial crisis, the Japanese Finance Ministry said.
Indonesia's economy contracted in the second quarter for the first time in more than two decades as it was slammed by coronavirus restrictions, with warnings that the recovery could be among the weakest in Southeast Asia.
The Bank of Thailand (BOT) has reduced its economic outlook to a contraction of 8.1 percent this year, deeper than the 1997 financial crisis, but kept the policy rate on hold at 0.5 percent, according to local media.
The latest labour market report released by the Ministry of Manpower (MOM) reveals that the country’s unemployment rate in the first quarter of 2020 hit 2.4 percent, the highest in a decade.
With success in containing the spread of COVID-19, Vietnam now holds advantages in economic recovery, according to former Deputy Prime Minister Vu Khoan.
Enterprises in Singapore recorded their worst performance in the first quarter of 2020 since the global financial crisis of 2008 as the COVID-19 pandemic pushed the economy to stagnation, a recent business climate survey showed.
Thailand’s economy contracted 1.8 percent in the January-March period from a year earlier, the sharpest fall in eight years in the first quarter, mainly due to the COVID-19 pandemic’s impact on tourism and domestic activity.
Malaysia’s economy is expected to have contracted for the first time in more than a decade in the first quarter as COVID-19 crisis shattered private consumption and external demand.
The Philippines’ GDP shrunk 0.2 percent in the first three months of 2020, recording the first contraction since the fourth quarter of 1998, announced the Philippine Statistics Authority (PSA) on May 7.
The International Monetary Fund (IMF) has forecasted that Cambodia's Gross Domestic Product (GDP) will experience a negative growth of 1.7 percent in 2020 due to social distancing measures to contain the COVID-19 pandemic.
The ASEAN+3 finance ministers have agree to consider adding the Japanese yen and Chinese yuan to currency swap arrangements in addition to the US dollar as part of efforts to deal with possible financial crises while rejecting protectionism amid growing US-China trade tensions.
Finance chiefs of the 10 ASEAN nations and Japan, China, and the Republic of Korea (ASEAN+3) met in Fiji on May 2 to discuss the enhancement of cooperation in times of financial crisis, including expanding the currency swap agreement between them.
By restructuring its debt and fleet, and stepping up maritime transportation and seaport services, Vietnam National Shipping Lines (Vinalines) has set sail again after emerging from cho
Over the past years, the maintenance of peace, political stability and security has created favourable conditions for Cambodia to continue obtaining new achievements in socio-economic development and in the improvement of the people’s living standards.
The VASS and the UN Development Programme jointly held a workshop in Hanoi on December 3 to give advice to the Vietnamese Government on the building of a new growth model.
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