BEIJING,
July 18 (Xinhua) -- The People's Bank of
China said on Friday that the Chiang Mai Initiative Multilateralisation (CMIM)
Agreement will be doubled to 240 billion U.S. dollars after an amendment.
The
amended agreement came into effect on 17 July, the central bank said in a
statement.
The
CMIM agreement is a multilateral currency swap contract which covers all ASEAN
nations, China, Japan and South Korea. It first came into effect in 2010.
The
amendment will strengthen the regional safety net for the CMIM participants in
responding to potential or actual balance-of-payments and short-term liquidity
difficulties, according to the statement.
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