The ASEAN+3 Macroeconomic Research Office (AMRO) and the Arab Monetary Fund (AMF) signed a three-year memorandum of understanding (MoU) to expand cooperation on macroeconomic surveillance, capacity building and policy dialogue, in a move the institutions said will strengthen regional resilience and the Global Financial Safety Net.
The agreement, concluded on the sidelines of the 10th Regional Financing Arrangements High-level Dialogue during the IMF–World Bank Annual Meetings in Washington, provides a framework for joint research projects, co-hosted events and staff exchanges.
The two organizations said the partnership is designed to leverage complementary expertise and facilitate knowledge sharing as member economies navigate elevated uncertainty and geo-economic fragmentation.
“In times of heightened uncertainty, safeguarding macroeconomic and financial resilience is a shared responsibility,” AMRO Director Yasuto Watanabe said, calling the MoU an important step in closer collaboration to reinforce the safety net for member economies.
AMF Director Fahad Al-Turki said the tie-up would deepen cooperation and coordination to address evolving stability risks at both regional and global levels.
The partnership formalizes and broadens existing contacts between regional financing arrangements, a network of institutions that provide crisis-prevention and -response tools alongside the IMF.
Under the MoU, AMRO and AMF plan to align work programs where appropriate, compare analytical methodologies and exchange views on policy responses to shocks, while developing joint training to build capacity among officials from member countries.
AMRO, an international organization that supports the ASEAN+3 economies — the 10 ASEAN members plus China; Hong Kong, China; Japan; and South Korea — conducts macroeconomic surveillance, supports regional financial cooperation and provides technical assistance.
The AMF, founded in 1976 and comprising 22 Arab countries, offers balance-of-payments support, conducts economic surveillance and promotes monetary coordination and integration across the Arab region.
Officials said the agreement aims to produce practical outputs, including co-authored research on shared policy challenges, workshops on surveillance techniques, and secondments that embed staff in each other’s institutions to transfer skills.
The institutions also plan to use the platform to deepen dialogue among their respective members, including through conferences and roundtables on topics such as external vulnerability, capital flows and policy frameworks.
Terms of the MoU were not disclosed. The accord takes effect immediately and will run for three years, with the option to review and extend based on outcomes of the joint work program, the organizations said.
Business News Asia
