TOKYO -- Talks are underway to expand an Asian currency-swapping arrangement for countries in crisis to cover the impact of natural disasters, pandemics and other nonfinancial shocks, Nikkei has learned.
Finance
ASEAN, Japan and others eye broader currency safety net
Changes to Chiang Mai Initiative would cover natural disasters, pandemics
A proposed revision to the Chiang Mai Initiative would allow currency swaps in times of natural disaster, such as severe flooding that hit Malaysia last year. © Reuters
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