Increase in funds likely

ASEAN member countries, and China, Japan, and South Korea would possibly increase the total crisis funds to $120 billion from the previous target of $80 billion, Indonesian Foreign Minister Hassan Wirajuda said yesterday.

The central banks of the ASEAN+3 countries have agreed to raise the crisis funds under the Chiang Mai Initiative which can be used by the ASEAN+3 countries should a crisis on their balance payment occur.

"There is a signal that ASEAN + 3 countries will increase the funds," Wirajuda said.