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eaglenews - 17 days ago

Stronger ASEAN currency swap system takes effect, enabling PHL to borrow up to $22-B from facility

(Eagle News) A stronger currency swap among member countries of the Association of Southeast Asian Nations (ASEAN) took effect on Tuesday, June 23, which would enably the Philippines to borrow up to $22.76 billion from the facility as a signatory to this, the Department of Finance said. The amended Chiang Mai Initiative Multilateralization (CMIM) agreement took effect Tuesday offering a stronger currency swap arrangement and financial safety net among ASEAN member-states and their partner-economies [ ]


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