ASEAN moves towards Asian monetary fund

MARKET NEWS

KUALA LUMPUR -- An Asian version of the International Monetary Fund moved a step closer last week, after the Association of South East Asian Nations (ASEAN) meeting in Kuala Lumpur.

The proposal is set to be tabled on the sidelines of next month’s annual meeting of the Asian Development Bank in Honolulu, Sahit Limpomgpan, director general of fiscal policy at Thailand’s finance ministry, told reporters after the ASEAN meeting last week.

Analysts welcomed the idea of monetary co-operation among

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