Single currency for ASEAN? Maybe not, for now

Single currency for ASEAN? Maybe not, for now
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Monday, ASEAN secretary general Kao Kim Hourn stated that a common currency and monetary union for the ASEAN region are not a priority at this time due to the fact that there are numerous other agenda items that require attention.

During a public lecture at Universitas Pelita Harapan in Tangerang, Banten, he emphasized that the recovery from the COVID-19 pandemic is currently the top priority in ASEAN.

"I believe the concept of monetary union has been debated for twenty years. "Of course, there is still a long way to go because we have other priorities," he stated.

In addition to the recovery from the pandemic, other current priorities include ASEAN connectivity, the blue economy agenda, and expanding intra-ASEAN trade, according to Hourn.

"These are the actual priorities. Regarding monetary union, there is still a great deal of confusion," he said.


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Nonetheless, Indonesia, the current ASEAN chair, has proposed the development of regional payment connectivity to facilitate cross-border payments in the region.

Thailand, Indonesia, Malaysia, the Philippines, and Singapore's central banks and financial authorities have signed a memorandum of understanding to increase regional cross-border remittances. To achieve this, the QR code systems of the five countries are anticipated to be linked.

Since the signing of the regional payment connectivity agreement in November 2022, only Thailand has utilized cross-border QRIS.


Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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