Southeast Asian countries will integrate local currency transactions and payment systems to boost financial cooperation. The ASEAN leaders have approved two financial sector cooperation schemes: local currency transactions (LCT) and regional payment connectivity. The RPC system attempts to make cross-border payments faster, cheaper, and more inclusive, while the LCT scheme, or "de-dollarization," allows ASEAN member countries to trade and invest in their own currencies.Bank Indonesia (BI) International Department Director Iss Savitri Hafid stated ASEAN countries will provide a framework for implementing these agreements during the 2nd ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) on 22-25 August 2023. Reduce demand and dependence on certain currencies to stabilize the rupiah and other ASEAN currencies.The 2nd AFMGM forum will also explore the effects of a 15% global minimum tax (GMT) on international corporations. GMT will primarily benefit developed nations with higher investment competitiveness; hence, a united declaration of position is unlikely. Developing countries still need "sweeteners" like tax incentives to attract investment, whereas wealthy countries' tax systems are different.Link di fonte: https://www.kompas.id/baca/ekonomi/2023/08/21/asean-bersiap-bahas-wacana-dedolarisasi-lebih-konkret (ICE GIACARTA)

Fonte notizia: Kompas - 21 August 2023