THE ASEAN Central Bank Deputies’ Meeting (ACDM), the ASEAN Finance and Central Bank Deputies’ Meeting (AFCDM), and related meetings were held on 7 and 8 April in a fully virtual format, hosted by the Philippines. A delegation led by Dr Sanda Oo, Deputy Governor of the Central Bank of Myanmar, participated via video conferencing.
At the ASEAN Central Bank Deputies’ Meeting held on 7 April, participants exchanged views on priority economic deliverables under the Philippines’ 2026 ASEAN Chairmanship, progress made by committees on financial integration, matters relating to the signing of the Memorandum of Understanding on the restoration of the ASEAN currency swap arrangement, and the role of central banks in promoting regional capital market integration. The deputies also endorsed matters requiring approval.
During the meeting, Dr Sanda Oo stated that the 2026 priority economic deliverables would enhance the efficiency of financial markets, expand financial services, and support the development of secure and reliable payment systems. She affirmed that the Central Bank of Myanmar fully supports these initiatives and will continue to cooperate with ASEAN partners to promote financial inclusion, capital market development, and sustainable payment connectivity. She also noted that Myanmar has completed its domestic procedures and is ready to sign the Memorandum of Understanding on the restoration of the ASEAN currency swap arrangement, which represents an important milestone for all ASEAN member states.
In the afternoon, the ASEAN Finance and Central Bank Deputies’ Meeting continued, with discussions covering progress on the ASEAN Economic Community Strategic Plan (2026-2030), the draft ASEAN Financial Integration Report 2026, updates from ASEAN committees, ongoing work under the ASEAN financial and monetary integration roadmap, the classification of economic activities and investments in line with environmental sustainability, the release of the fourth report on sustainable finance in the region, and strategic partnership frameworks between ASEAN and the Asian Development Bank. Participants exchanged views and endorsed relevant matters.
On 8 April, the ASEAN+3 Finance and Central Bank Deputies’ Meeting was held. The International Monetary Fund presented the global economic outlook, while the ASEAN+3 Macroeconomic Research Office outlined regional economic prospects. The Asian Development Bank also briefed participants on the potential macroeconomic impacts of developments in the Middle East on Asia and the Pacific.
Discussions also covered issues under the Chiang Mai Initiative, including the use of local currencies for regional payments, the 17th test run of the currency swap arrangement, cross-border and digital payment systems, developments in the ASEAN bond market, and disaster risk financing mechanisms. Deputies exchanged views on these matters.
Dr Sanda Oo welcomed the 17th test run of the currency swap arrangement under the Chiang Mai Initiative and expressed support for revisions to the Operational Guidelines based on the outcomes of the 16th test conducted in 2025. She noted that such annual test runs help strengthen regional financial stability, improve operational effectiveness and transparency, enhance confidence in swap arrangements among member countries, identify operational weaknesses, and improve preparedness for short-term balance-of-payments difficulties. She added that the Central Bank of Myanmar will continue to participate actively in future test runs and contribute to strengthening the resilience of the ASEAN+3 financial system.
The 22nd ASEAN Central Bank Governors’ Meeting (ACGM), the 13th ASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM), and related meetings will be reportedly held from 9 to 10 April 2026. — MNA/MKKS
