ID :
26634
Sun, 10/26/2008 - 13:23
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Shortlink :
http://m.oananews.org//node/26634
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RI YET TO SET CONTRIBUTION TO CRISIS FUND
Beijing, Oct 25 (ANTARA) - Indonesia has not set the amount of funds it will contribute to the crisis fund agreed on by ASEAN countries and China, Japan and South Korea (ASEAN+3).
Speaking to the press at the Peninsula Hotel here on Saturday night, President Susilo Bambang Yudhoyono said the amount to be contrubuted by each ASEAN+3 member country would be discussed at a finance ministers meeting.
"I will not say it now. Let the discusions be completed first. We had better wait for its exact calculation," he said.
The amount of funds Indonesia would contribute to the crisis fund would be adjusted to the country's financial capacity, he said.
ASEAN+3 leaders have reached an agreement on an 80 billion U.S. dollar foreign-exchange reserve pool to be used as a countermeasure to defend currencies and backstop Asian economies amid the global financial crisis.
The operation details and the timeline of the crisis fund, however, is still under discussion, Xinhua quoted Japanese Foreign Ministry press secretary Kazuo Kodama as saying at a press briefing on the sidelines of the seventh Asia-Europe Meeting (ASEM).
Yudhoyono said the amount of funds each of the ASEAN+3 countries would contribute to the crisis fund would be set based on their respective gross domestic product and foreign exchange reserves.
China, Japan and South Korea have agreed to contribute 80 percent of the US$80 billion while the remaining 20 percent or US$16 billion will come from ASEAN member states.
ASEAN (the Association of Southeast Asian Nations) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
The ASEAN+3 leaders met prior to the Asia-Europe Meeting (ASEM) summit held in Beijing Friday and Saturday.
D013
Speaking to the press at the Peninsula Hotel here on Saturday night, President Susilo Bambang Yudhoyono said the amount to be contrubuted by each ASEAN+3 member country would be discussed at a finance ministers meeting.
"I will not say it now. Let the discusions be completed first. We had better wait for its exact calculation," he said.
The amount of funds Indonesia would contribute to the crisis fund would be adjusted to the country's financial capacity, he said.
ASEAN+3 leaders have reached an agreement on an 80 billion U.S. dollar foreign-exchange reserve pool to be used as a countermeasure to defend currencies and backstop Asian economies amid the global financial crisis.
The operation details and the timeline of the crisis fund, however, is still under discussion, Xinhua quoted Japanese Foreign Ministry press secretary Kazuo Kodama as saying at a press briefing on the sidelines of the seventh Asia-Europe Meeting (ASEM).
Yudhoyono said the amount of funds each of the ASEAN+3 countries would contribute to the crisis fund would be set based on their respective gross domestic product and foreign exchange reserves.
China, Japan and South Korea have agreed to contribute 80 percent of the US$80 billion while the remaining 20 percent or US$16 billion will come from ASEAN member states.
ASEAN (the Association of Southeast Asian Nations) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
The ASEAN+3 leaders met prior to the Asia-Europe Meeting (ASEM) summit held in Beijing Friday and Saturday.
D013
