The EFSD takes part in a G20 International Financial Architecture Working Group meeting
Moscow, 13 September 2021. The Eurasian Fund for Stabilization and Development (EFSD) and other regional financial arrangements took part in a session of the G20 International Financial Architecture Working Group meeting.
In a session with regional financial arrangements (RFAs), the G20 Working Group discussed progress in cooperation among the RFAs and the International Monetary Fund (IMF) and the RFAs’ response to the pandemic as part of the effective functioning of the global financial safety net.
AMRO (the ASEAN+3 Macroeconomic Research Office of the Chiang Mai Initiative Multilateralisation) presented a joint RFA report on the pandemic response, institutional changes, and the results of RFAs’ collaboration with the IMF and among themselves.
All RFAs took part in the meeting, including the Arab Monetary Fund, the BRICS Contingent Reserve Arrangement, the European Stability Mechanism, the Latin American Reserve Fund, the European Union Macro-Financial Assistance mechanism, and AMRO.
The Eurasian Fund for Stabilization and Development (EFSD) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of the same six countries. The objectives of the EFSD are to assist its member countries in overcoming the consequences of the global financial crisis, ensure their economic and financial stability, and foster integration in the region. The EFSD member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the EFSD Resources Manager.
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