Asian Nations Unveil $120 Billion Liquidity Fund

亚洲13国财政部长同意组建一个1,200亿美元的储备基金，在紧急需要时提供流动性，以帮助应对全球金融危机。在印尼巴厘岛召开的亚洲开发银行(ADB)年会上，亚洲各国财政部长还表示，在处理经济危机时，各国政府必须加大对社会保障体系的投入，降低经济增长对出口的依赖。在周日的会议上，日本韩国和中国与东南亚国家联盟(Asean, 简称：东盟)就这个被称为清迈倡议的基金的大多数方面达成了一致，包括各国缴款份额借款条件和监控机制。这一倡议旨在在东盟国家和东亚三国中组建一个双边货币互换安排网络。东盟国家包括了文莱柬埔寨印尼老挝马来西亚缅甸菲律宾新加坡泰国以及越南。在1,200亿美元外汇储备库中，中日韩三国将提供其中的80%，东盟国家将分担剩余的20%。具体来说，日本将出资384亿美元，中国（包括香港）也将贡献384亿美元，而韩国将提供192亿美元。根据这一计划，实力较小的亚洲经济体能借到的资金和他们贡献的比例将超过较为发达的经济体。各国财长还公布了一个5亿美元的信贷担保和投资计划，将用于帮助那些打算发行债券的公司提高信用评级。此外，亚洲最大的经济体日本表示，将通过紧急互换协议向亚洲各国提供至多6万亿日圆（约合600亿美元）的资金。日本国际协力银行(Japan Bank For International Cooperation)还将为亚洲国家发行的至多5,000亿日圆武士债券提供担保。武士债券是外国政府或公司在日本发行的以日圆计价的债券。在这场二战以来最为严重的全球经济危机中，主要西方市场对亚洲出口产品的需求急剧下滑，给很多亚洲经济体带来了巨大冲击；出口是亚洲地区的主要增长引擎。亚洲开发银行警告称，由于全球经济危机，今年将有6,100万人仍处于极端贫困当中。该行称，如果明年增长依然缓慢，这一数字可能会上升到将近1.6亿人。亚洲开发银行行长黑田东彦(Haruhiko Kuroda)说，随着出口市场萎缩，全球贸易崩溃的势头已经在逐渐增强。日本财务大臣与谢野馨(Kaoru Yosano)在亚洲开发银行年会上表示，亚洲国家必须调整各自经济，更为关注本地需求。身兼亚洲开发银行理事职位的与谢野馨说，亚洲地区需要提振本地需求以避免经济崩溃。与谢野馨说，亚洲需要加大对社会保障体系的投入，这对提振信心和降低经济下滑时人们遭受的损失非常重要。目前亚洲的社会保障相关投入占本地生产总值(GDP)的比例是全球各个地区中最低的。亚洲开发银行周六表示，未来两年对亚洲最贫困国家的贷款规模将提高超过100亿美元；但外界普遍认为，这一金额不足以弥补经济危机导致私人投资将近停滞所带来的资金缺口。上述决定宣布数天前，亚洲开发银行的67个成员达成一致，决定将该行的资本增加两倍至1,650亿美元，提高该行出资支持基础设施以及其他携手私营部门合作以减少贫困项目的能力。相关阅读亚开行与中国进出口银行敲定15亿美元融资项目 2009-05-04亚开行：亚洲股市出现复苏迹象 2009-04-21亚洲经济初显见底迹象 2009-04-10日本和中国同意合作帮助亚洲经济体 2009-04-03亚开行下调中国今年GDP增长预期 2009-03-31


Ministers from across Asia agreed to set up an emergency $120 billion liquidity fund that 13 Asian nations can tap to help counter the global financial crisis.At the Asian Development Bank's annual meeting here, finance officials also said Asian governments must spend more on social safety nets and reduce their reliance on export-driven growth, as they grapple with the economic meltdown.Japan, South Korea and China on Sunday agreed with the Association of Southeast Asian Nations, or Asean, on most aspects of the liquidity fund, called the Chiang Mai Initiative, including country contributions, borrowing accessibility and surveillance mechanisms.The initiative aims to create a network of bilateral currency-swap arrangements among Asean and the three East Asian countries. Asean includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.Japan, South Korea and China will provide 80% of the $120 billion currency pool and Asean members the remaining 20%. Japan will contribute $38.4 billion, while China, including Hong Kong, will also offer $38.4 billion. South Korea will provide $19.2 billion.Under terms of the program, smaller Asian economies will be able to borrow larger amounts in proportion to their contributions than the more-developed economies.The ministers also unveiled a $500 million credit-guarantee and investment mechanism, which will be used to enhance the credit ratings of companies that want to issue debt.Separately, Japan, Asia's largest economy, said it will provide up to six trillion yen, or about $60 billion, to Asian nations via emergency swap agreements. The Japan Bank for International Cooperation also will guarantee Samurai bonds of up to 500 billion yen issued by Asian countries. Samurai bonds are yen-denominated bonds issued in Japan by foreign countries or companies.Amid the worst global slump since World War II, many Asian economies are in free fall as demand for their exports -- the region's main growth engine -- evaporates in big Western markets.The ADB has warned that 61 million people will remain trapped in extreme poverty this year because of the global slump. That figure could increase to nearly 160 million if slow growth continues next year, it said. The bank's president, Haruhiko Kuroda, said the collapse in global trade has 'gathered momentum' as export markets contract.'Asian countries must restructure their economies and focus more on domestic demand,' Japanese Finance Minister Kaoru Yosano told the ADB meeting. 'The Asian region needs to prop up domestic demand to avoid economic meltdown,' said Mr. Yosano, who is also a governor of the ADB.Boosting Asia's spending on social protection -- currently the lowest of any region as a percentage of gross domestic product -- is crucial to boosting confidence and reducing the human cost of an economic downturn, he said.The ADB said Saturday that it will boost lending to the region's poorest nations by more than $10 billion over two years, though it is widely acknowledged that this isn't enough to make up for the shortfall created from a near-halt in private investment amid the economic crisis.The announcement came just days after the bank's 67 member countries approved a tripling of the ADB's capital to $165 billion, expanding its ability to finance infrastructure and other projects aimed at reducing poverty in partnership with the private sector.