Asean finance ministers, central bankers warn of rising global risks amid Middle East tensions

Datuk Seri Amir Hamzah Azizan, Minister of Finance II, led Malaysia’s delegation at the 13th Asean Finance Ministers’ and Central Bank Governors’ Meeting alongside Datuk Seri Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia as Head of Delegation for Malaysia’s central bank. Hosted virtually by the Philippines, the meetings focused on the theme "Navigating Our Future, Together". - Kementerian Kewangan/Facebook

MANILA: Asean finance ministers and central bank governors on Friday (April 10) raised concerns over escalating tensions in the Middle East and their potential impact on the global economy.

In a joint statement issued after the 13th Asean Finance Ministers' and Central Bank Governors' Meeting (AFMGM) held here, the officials said they expressed concerns on rising geopolitical risks, global trade uncertainties and disruptions to energy markets that may increase volatility in inflation, financial markets and capital flows.

Officials emphasised the need to deepen policy coordination, enhance financial cooperation, advance inclusive and sustainable growth, deepen financial safety nets, accelerate digital transformation and manage climate-related risks.

The 13th AFMGM was convened under the co-chairmanship of the secretary of the Philippine Department of Finance and the governor of the Bangko Sentral ng Pilipinas, the country's central bank.

The Philippines holds the Asean Chairmanship for 2026. - Xinhua