This report examines how financing arrangements have evolved in
Asia to help safeguard the region from financial crises. The
1997-1998 Asian financial crisis and the 2007-2008 global financial
crisis highlighted the need for global and regional financial
safety nets to safeguard financial stability and enhance resilience
to future crises. Over the past decade, Asian economies have made
progress in establishing financing arrangements to strengthen the
region's financial safety net. These arrangements have enhanced
regional macroeconomic and financial surveillance, strengthened
crisis management, and bolstered cooperation for financial
stability and resilience. The report examines the evolution and the
toolkits of regional financing arrangements and assesses the Asian
Development Bank's role in providing crisis response mechanisms
through its policy-based lending facilities.
General
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