Asian Financial Forum: Call for Chiang Mai upgrades, shorts control
Asian regulators note the risk of future market volatility due to fund outflows from the region or external global difficulties, suggesting that both Chiang Mai and short selling are among topics that need attention.
Concern over the potential effects of the sudden exit of fund inflows into the region – if the recent spate of speculative investment were to end – and other future crises, saw government heads speaking at the Asian Financial Forum call for several areas of policy to be tightened.
In particular, Rintaro Tamaki, vice minister of finance for international affairs, Japan, underlined his view that the Chiang Mai Initiative – a multilateral currency swap agreement between the ten members of Asean and
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