ASEAN Central Banks Meet In London To Discuss Priorities

The ASEAN Deputy Central Bank Governors Meeting (ACDM) was held on Tuesday (March 28) in Indonesia to discuss priority economic deliverables (PEDs) in 2023.

The meeting was held as part of the first ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM), which runs from March 28-31.

The event was attended by Deputy Governors and representatives of Central Banks from nine Member States, namely the Monetary Authority of Singapore, Central Bank of Malaysia (BNM), Bank of Thailand (BOT), Bangko Sentral ng Pilipinas (BSP) of the Philippines, Bank of Lao PDR (BOL), Central Bank of Brunei Darussalam (BDCB), National Bank of Cambodia (NBC) and State Bank of Vietnam (BEV).

Speaking at the opening ceremony, Bank Indonesia Deputy Governor Dody Budi Waluyo stressed the importance of policy coordination among regional central banks to support recovery, promote economic growth and strengthen financial stability.

He said the bloc must intensify collaboration and implement collective measures to achieve the DEPs, which are categorized into three strategic axes: Recovery and Reconstruction: Rebuilding regional growth through connected markets and new competitiveness; Digital Economy: Accelerate transformation and participation in the inclusive digital economy; as well as Sustainability: Promoting Sustainable Economic Growth for a Resilient Future.

At the conference, delegates also discussed three main tasks, including currency diversification by exploring the use of local currency transactions (LCT); Developing Regional Payments Connectivity (RPC) to strengthen cross-border payments connectivity and support inclusive growth; and building macro-financial resilience through synchronous policy implementation.

They also discussed promoting financial integration in the region by 2025 and expressed support for the priorities of Indonesia’s ASEAN Chairmanship in 2023.

The results of the discussions at the event will be communicated to the AFMGM on March 31.

This article is originally published on

Beth Malcolm

Beth Malcolm is Scottish based Journalist at Heriot-Watt University studying French and British Sign Language. She is originally from the north west of England but is living in Edinburgh to complete her studies.