ASEAN+3 Macroeconomic Research Office (AMRO)
Background
The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization responsible for regional macroeconomic surveillance, monitoring, assessing, and reporting economic and financial conditions and outlook of member countries in the ASEAN+3 region, which includes 10 member states of the Association of Southeast Asian Nations (ASEAN), and China, Japan, and South Korea.
AMRO was initially established as a company limited by guarantee in Singapore in April 2011 and transformed into an international organization in February 2016.
Key roles
AMRO has three core functions: conducting macroeconomic surveillance, supporting the implementation of the Chiang Mai Initiative Multilateralisation (CMIM), and providing technical assistance to members.
Macroeconomic surveillance: Assessing members’ macroeconomic developments, outlook, risks, and vulnerabilities, and provide policy advice to member economies. This is conducted through AMRO staff’s regular visits to ASEAN+3 member economies (Annual Consultation Visit and Interim Visits) to discuss with both the public and private sectors on the economic conditions and provide policy advice.
Support the implementation of CMIM: Supporting members in the implementation of the CMIM, a multilateral currency swap arrangement among ASEAN+3 member economies with a total size of USD240 billion. The CMIM’s core objectives are to address balance of payments and/or short-term liquidity difficulties in the ASEAN+3 region. Thailand’s contribution to the CMIM totals to USD9.104 billion, and may request financial support of up to 2.5 times its contribution, or USD22.76 billion.
Provide Technical Assistance: Providing secondment, consultancy, research and training programs to enhance members’ capacities.
Additional Information
International Financial Organization Team, International Cooperation Department, Corporate Relations Group
E-mail: IND-Cooperation@bot.or.th