Road to A.M.F : Asian Cousin to I.M.F. The baby is AMRO

Based in Singapore, the Macroeconomic Research Office, or AMRO, is a new regional macroeconomic surveillance and crisis management unit, launched by the ministries of finance, central banks and monetary authorities of China, Japan, South Korea and the 10 countries of the Association of Southeast Asian Nations (ASEAN).

Armed with a $120 billion reserve pool, AMRO will offer emergency US dollar relief to any ASEAN Plus Three country to manage liquidity problems when financial turmoil arises, Wei said.

Wei said AMRO will provide contracting parties with financial loan support that is below 20 percent of the lending pool with no extra conditions attached at a time without crisis. However, 80 percent of any swaps approved will be subjected to IMF conditions.

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