Finance chiefs from the Association of Southeast Asian Nations plus Japan, China and South Korea on Tuesday agreed on the need to remain vigilant amid U.S. and European banking woes despite "limited" direct spillovers so far.
After a meeting in South Korea's Incheon, the finance ministers and central bank governors also said tight financial conditions, along with supply chain bottlenecks and higher commodity prices caused by Russia's war on Ukraine, pose downside risks to the economic outlook for the region.
