Asian economies, hit hard by the coronavirus pandemic, are expected to recover this year with the help of COVID-19 vaccine rollouts, but still warned of downside risks stemming from the emergence of new mutations and differences in vaccination rates among nations, according to a joint statement.
"We expect vaccine rollouts to play a key part in accelerating regional economic recovery," said the finance ministers and central bank governors of the ASEAN+3, which comprises ten ASEAN nations and its three partners, namely Japan, China, the Republic of Korea, in a joint statement after holding a videoconference on May 3.
The new framework envisions providing an inclusive platform for policy dialogue among 68 ADB members and international institutions, such as the Organisation for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF) and the World Bank (WB)./.
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