Singapore, April 22, 2026
On the sidelines of the 2026 IMF-World Bank Spring Meetings, we exchanged views on the evolving global economic landscape and reaffirmed our shared commitment to strengthening macroeconomic and financial resilience through closer inter-regional cooperation.
The global economy is at a critical juncture. The complexities of today’s challenges—ranging from persistent geopolitical tensions to the rapid digital transformation of financial systems—are reshaping the policy environment and call for responses that are agile, timely, and context-specific. Amid these shifts, our discussions highlighted that the stability of the global economy increasingly depends on the strength and connectivity of its regional foundations.
We underscore the central role of the International Monetary Fund (IMF) at the core of the Global Financial Safety Net, complemented by Regional Financing Arrangements (RFAs). At the same time, regional institutions—including ASEAN+3 Macroeconomic Research Office (AMRO) and Latin American Reserve Fund (FLAR)—play an increasingly important role in strengthening resilience through their regional expertise, institutional experience, and close understanding of local economic conditions. Greater connectivity among these institutions can further enhance the effectiveness of the global system.
A blueprint for inter-regional synergy
Against this backdrop, we see value in a more connected and complementary approach to resilience-building across regions. Stronger linkages among regional institutions can enhance the effectiveness of the global system, particularly in addressing shocks that cut across borders but have region-specific impacts.
In this regard, two pillars of cooperation merit further attention:
- Enhancing surveillance cooperation: Greater exchange of analytical approaches and experiences in macro-financial surveillance—including on debt sustainability and the economic impact of climate-related risks—can contribute to more timely, relevant, and comprehensive risk assessments.
- Advancing cross-border financial connectivity: Ongoing international efforts to improve cross-border payments, including the Group of Twenty (G20) roadmap, present an opportunity to strengthen interoperability, promote collaboration on technical standards, and support more seamless and inclusive and seamless financial systems across regions.
A multi-layered approach to global financial resilience
A strong and effective Global Financial Safety Net requires close cooperation among its components. Deeper engagement among RFAs, and with the IMF, can help ensure that the global system remains responsive, well-coordinated, and effective in times of stress.
We reaffirm that a resilient global economy will increasingly depend on strong regional institutions and effective cooperation across regions. We remain committed to continued dialogue and collaboration with our partners to support resilience, stability, and sustained growth across our regions and beyond.
Yasuto Watanabe
Director/CEO, AMRO
Jose Dario Uribe
Executive President, FLAR