ASEAN+3 Macroeconomic Research Office

The ASEAN+3 Macroeconomic Research Office (AMRO) is a regional macroeconomic surveillance organization that aims to contribute to securing the macroeconomic and financial stability in the ASEAN+3 region. AMRO’s vision is to be an independent, credible and professional regional organization acting as a trusted policy advisor to members in the ASEAN+3 region, which includes 10 member states of the Association of Southeast Asian Nations (ASEAN), and China (including Hong Kong), Japan, and Korea. To fulfill its mandate, AMRO focuses on three core functions: conducting macroeconomic surveillance, supporting the implementation of the Chiang Mai Initiative Multilateralisation (CMIM), and providing technical assistance to members. With the size of USD240 billion, the CMIM is a multilateral currency swap arrangement among ASEAN+3 members. Its core objectives are to address balance of payment and short-term liquidity difficulties in the region, and to supplement existing international financial arrangements. AMRO was initially established as a company limited by guarantee in Singapore in April 2011, and transformed into an international organization in February 2016.