THE ASEAN+3 Finance and Central Bank Deputies Meeting was held virtually yesterday, hosted by the People's Republic of China.

Deputy Minister for Planning and Finance U Maung Maung Win, deputy ministers and deputy governors from the ministries of finance and central banks of ASEAN+3 countries were present at the meeting.

In the first informal session of the meeting, the 2022 economic situation analysis of ASEAN+3 regional countries was discussed by the International Monetary Fund (IMF) and the ASEAN+3 Macroeconomic Research Office (AMRO), and Financial Programmes to Ensure Long-term Sustainable Development in the Region” by the Asian Development Bank. Deputy ministers and deputy governors of the central banks exchanged their views and opinions on the discussion.

In the second formal session of the meeting, attendees had a discussion after the AMRO conferred strategies to conduct research on the collection of the financial and economic information of member countries in the region, procedures, a medium-term plan to be implemented between 2023 and 2025 and future plans.

In addition, they continued to discuss supplementing the operation manual related to the methods for financial difficulties in member states of the region, according to the agreement for multilateral participation in the Chiang Mai Programme, steps of the operation and setting the interest rate framework.

At the meeting, Deputy Minister U Maung Maung Win said that the world was faced with COVID-19 infection, fuel oil difficulties and challenges of rising commodity prices and inflation for global economic development. Currently, Myanmar is making efforts to recover the country's economy in the post-COVID-19 era, and it is expected to achieve an economic growth rate of 3.7 per cent for the 2022-2023 financial year. After the first six months of 2022, the economic growth rate has reached 3.4 per cent. Myanmar is striving to participate in a strong and inclusive economic development, and will stand as a responsible country with other member countries in the international community, he added.

The ASEAN+3 Finance and Central Bank Deputies Meeting was held in the ASEAN countries and the plus three countries, China, Japan and the Korea taking turns as co-hosts. It is reported that Cambodia from ASEAN countries and China from the plus three countries acted as co-chairs for the meeting this year.

MNA/CT

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