Surin : Chiang Mai Initiative fund enlarged

Saying during the Asean plus three summit in Phuket on Sunday, Surin said Asean members including China, Japan, and Korea have agreed to enlarge the currency swap agreement fund that provide emergency capital to member country in need.

Each member, he said, would contribute equally to the additional fund.

According to the agreement, 80 per cent of the total fund would be contributed by China, Japan and Korea, while the remaining 20 per cent or US$24 billion would be contributed by Asean members.