The Association of Southeast Asian Nations (ASEAN) along with Japan, China, and South Korea says it will launch a $120bn reserve fund, increasing the foreign exchange reserves that the region can draw on in times of turmoil. Japan has offered an additional $60bn via a swap line. Can regional funds provide an Asian alternative to the IMF?

Adam, Clenfield: Asia’s $120 Billion Reserve Fund
WSJ: Asian Nations Unveil $120 Billion Liquidity Fund
Henning: Regional Arrangements and the IMF
IMF: National, Regional, and Global Insurance Mechanisms in Crisis Prevention
Cassidy: The Triumphalist