ASEAN Plus Three strive to prepare regional reserve pool for kick-off

[FarCenter]

Leaders at the ongoing summits of east and southeast Asian leaders at the Thai beach resort of Hua Hin on Saturday urged their finance ministers to speed up preparation work on the region's foreign exchange reserve pool so that it can be launched by the year end.

The landmark reserve pool, known as the Chiang Mai Initiative Multilateralization (CMIM), will help the member countries of the Association of Southeast Asian Nations (ASEAN) as well as China, Japan and South Korea address short-term liquidity difficulties amid potential crises in the future, analysts said.

Officials said they also expected to the multilateral financial aid mechanism to help spur cooperation and integration in the region.

<SNIP>
http://english.peopledaily.com.cn/90001/90777/90851/6792906.html