The 18th ASEAN Finance Ministers’ Meeting in 2014 established the ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) as a ministerial body to provide a strategic channel to deliberate on key issues of common interest and to widen the extent of discussion and policy dialogue on monetary policy and financial stability issues. The AFMGM is later recognised in 2018 as a Ministerial Body in the ASEAN Charter.

Since then, the AFMGM has convened Finance Ministers and Central Bank Governors in ASEAN to discuss global and regional economic developments and outlook and to provide guidance in advancing ASEAN’s initiatives on financial integration, financial inclusion, financial stability, digitalization, and sustainability, as well as in enhancing collaboration with development partners.

The AFMGM is currently chaired by the Lao PDR Ministry of Finance (LMOF) and the Bank of the Lao PDR (BOL).