Milan, Italy - The 28th ASEAN+3 Finance Ministers' and Central Bank Governors' Meeting was held on Monday, bringing together the 10 ASEAN member states, China, Japan, and South Korea. Indonesia's Finance Minister Sri Mulyani Indrawati emphasized ASEAN+3's role in easing tensions and providing certainty amid global challenges.
Indrawati welcomed discussions on the Chiang Mai Initiative, a multilateral currency swap arrangement. She expressed hope that initiatives led by Indonesia and Japan to strengthen the region's financial safety net will progress.
During the meeting, Indrawati highlighted the importance of effective fiscal policy implementation. She cited ASEAN+3 Macroeconomic Research Office (AMRO) case studies, noting the vital role of fiscal policies in driving national growth and maintaining fiscal sustainability, while considering domestic conditions.