Is there or is there not an Asean regional fund?

Philippine economic managers face the press.

Philippine economic managers face the press.


There was a “convergence of ideas” said Finance Secretary Margarito Teves in Monday’s presser. That “convergence of ideas,” however, was not enough to establish a regional fund. “I’m painting a scenario,” Teves said, of a regional fund being approved by the leaders. But that scenario, he added, would “have to be validated by the Asean plus 3 heads of state in Beijing.
“They could adopt this scenario or they could modify it or they could reject it.”
When all was said and explained, it turned out that the Philippines was only “advocating” for a regional fund. Did anyone else support the fund? someone asked. The reply was “indicative,” the favorite word in that presser: “No one objected…on second thought, one country. But we did not hear any objection from any of the member countries.”
Silence, of course, does not always mean assent.
Anyway, we’ll know soon if the regional fund will materialize or not. Meanwhile, it is clear that there is none at present.

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