AMRO Agreement Signed

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—The Governments of the ASEAN+3 member countries and Hong Kong Special Administrative Region signed the ASEAN+3 Macroeconomic Research Office (AMRO) Agreement on 10 October 2014 in Washington D.C., USA. BSP Governor Amando M. Tetangco Jr. attended the signing ceremony and signed for and on behalf of the Government of the Republic of the Philippines.

The AMRO Agreement will transform AMRO, which was established as a company limited in Singapore in April 2011, into an international organization. This is expected to enable AMRO to conduct objective surveillance contributing further to regional financial stability along with the strengthened Chiang Mai Initiative Multilateralization.