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ASEAN finance leaders have stepped up calls for stronger regional financial integration and policy coordination, as mounting geopolitical tensions and economic uncertainties threaten to destabilise global markets.
At the 13th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting, Malaysia’s Finance Minister II Datuk Seri Amir Hamzah Azizan warned that external shocks, including Middle East tensions, tariff pressures and rising debt vulnerabilities, require a unified and pragmatic regional response.
The virtual meeting on 10 April brought together finance ministers and central bank governors from across Southeast Asia, including Bank Negara Malaysia Governor Datuk Seri Abdul Rasheed Ghaffour, to assess risks and chart a path forward for the bloc’s economic resilience.
“In light of current global shocks, ASEAN’s position should remain pragmatic and steady. While we may have limited control over external volatility, we can strengthen our internal foundations through deeper integration, enhanced policy coordination, sustained macroeconomic credibility, and reinforced confidence in ASEAN as a region for investment and growth,” Amir said.
The meeting concluded with a joint commitment to preserve macroeconomic and financial stability, while accelerating digital transformation and promoting inclusive, sustainable growth across member states.
Co-chaired by Philippines Finance Secretary Frederick D. Go and Governor Eli M Remolona Jr of the Central Bank of the Philippines, the session endorsed priorities under the Philippines’ 2026 chairmanship theme, “Navigating Our Future, Together”, focusing on capital market development, cross-border payment integration and improved financial health metrics.
A key outcome was the endorsement of a proposed US$30 billion facility by the Asian Development Bank for 2026 to 2030, designed to support ASEAN’s long-term financial sector blueprint and the ASEAN Community Vision 2045.
Leaders also supported the revival of the ASEAN Swap Arrangement to strengthen regional financial safeguards, alongside continued progress on the ASEAN Taxonomy for Sustainable Finance.
In the push towards sustainable finance, ministers noted a robust pipeline of projects valued at US$19.4 billion under the ASEAN Catalytic Green Finance Facility for 2026 to 2028, and welcomed the launch of the Regional Connectivity Fund for Energy on 7 April to enhance regional energy security and advance the ASEAN Power Grid initiative.
The discussions were further informed by engagement with global financial institutions and partners, including the International Monetary Fund and World Bank, as well as the United States and Australian treasuries and international business councils. - April 11, 2026
