HKMA’s Pang says Chiang Mai crucial to maintaining financial stability
Peter Pang, a deputy chief executive of the Hong Kong Monetary Authority, on Thursday said the accumulation of international reserves as part of the Chiang Mai agreement was integral to achieving financial stability in the region.
At an IMF Independent Evaluation Office Workshop in Hong Kong, Pang said: "While the size of the pool of reserves under the Chiang Mai agreement is relatively modest compared with the potential needs for some of the larger economies in the region, the importance of the
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