18 December 2024, Seoul. The Philippines participated in the 3rd ASEAN+3 Economic Cooperation and Financial Stability Forum, with the theme “Sustainable Growth: Reinforcing Resilience, Revitalizing Productivity,” convened on December 16, 2024, at the Bank of Korea in Seoul. Jointly organized by the ASEAN+3 Macroeconomic Research Office (AMRO), the International Monetary Fund (IMF), and the Bank of Korea. The forum gathered policymakers, academics, and experts to address the region’s economic challenges and explore pathways for sustainable development.

The Philippine delegation included Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila, Jr., Department of Finance Undersecretary Joven Balbosa of the International Finance Group (DOF-IFG), and other finance officials. Philippine Ambassador Theresa Dizon-de Vega was likewise present at the forum.

The forum featured keynote messages and presentations from ROK Deputy Prime Minister and Minister of Economy and Finance Sang-mok Choi, AMRO Director Kouqing Li, Nobel Laureate for Economics Simon Johnson, IMF Director Krishna Srinivasan, Indonesian Finance Minister Sri Mulyani Indrawati, ADB President Masatsugu Asakawa and other distinguished experts.

BSP Deputy Government Dakila joined the Panel Session on “Macroeconomic Development and Prospects: Near-term Risks and Policy Directions” where panelists examined near-term risks to macro-financial stability and discussed policy directions to address these challenges.

The forum discussed the urgent need for enhanced economic and financial cooperation among ASEAN+3 countries in the face of evolving challenges and to secure sustainable growth. END