Statement by IMF Deputy Managing Director Kenji Okamura at the Conclusion of the 45th ASEAN Summit

IMF News, October 11, 2024

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Mr. Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), participated in the 45th ASEAN Leaders’ Summit in Vientiane, Lao PDR.
Expressed gratitude to President Thongloun Sisoulith, Prime Minister Sonexay Siphandone, and the Laotian government for "warm hospitality, excellent organization, and for the productive meetings."

"Growth in ASEAN economies is relatively strong, and inflation has declined."
IMF projection: "We expect growth to increase modestly to 4.6 percent in 2024 relative to 4.1 percent in 2023, reflecting robust domestic demand, improvements in external demand, and a strong recovery in investment and tourism."
Characterization of the global outlook: "The IMF’s projections show that the global economy is heading for a soft landing, but the economic environment remains risky and uncertain."

Summit theme highlighted: "Enhancing Connectivity and Resilience."
Policy guidance: "To successfully navigate these pressures, it is important to strengthen ASEAN’s resilience with deft policy management."
Integration recommendation: "Deepening regional integration will help growth momentum."

The IMF's commitments: "The IMF is committed to supporting ASEAN with strategic policy advice, capacity development and lending when needed."
Forward-looking engagement: "We look forward to continuing our dialogue with ASEAN policymakers during the IMF and World Bank Annual Meetings later this month in Washington, DC."

Statement by IMF Deputy Managing Director Kenji Okamura at the Conclusion of the 45th ASEAN Summit, October 11, 2024.