Asian Monetary Fund – an unrealised dream

Wong Chin Yoong

The US Treasury market is the largest and the most liquid sovereign debt market in the world. It is estimated that emerging countries are holding up to US$1 trillion is US debts. – EPA pic, February 16, 2023.

THE other day, Prime Minister Anwar Ibrahim revisited the idea of the Asian Monetary Fund (AMF), Japan’s inspiration to combat the 1997 financial crisis in the region.

He proposed a strengthening of non-US-centric regional monetary cooperation to buffer against such crises.

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