| Given the high and rising degree of regional economic interdependence, it is important for East Asian countries to keep intra-regional exchange rates relatively stable. This is especially true for countries such as Cambodia, Lao PDR, and Viet Nam, or “CLV” countries, which share economic and financial structures. The project aims to provide CLV countries an opportunity to contribute to the discussion of regional currency systems/perspectives for future development and therefore improve the CLV-impact in ASEAN consultations. In particular, the project is meant to enhance the CLV countries’ capacity to better formulate and implement monetary and exchange rate policies and its contribution to regional monetary cooperation in the context of new developments in the regional monetary cooperation. To this end, the proposed study will focus on the following priority areas: (1) Review of domestic and regional monetary and exchange rate policies in CLV countries; (2) Calculation of Asian Currency Indices for the CLV countries; (3) Provision of policy advice for enhanced regional and sub-regional currency cooperation including a road-map for de-dollarization (short-, medium- and long-term); (4) Preparation of a report study on “Monetary and Exchange Rate Policies in Selected ASEAN Countries: The Scope for Cooperation among Cambodia, Laos and Viet Nam in Light of New Regional Developments” |