Bert Hofman is professor at the East Asian Institute of the National University Singapore.

Hofman emphasized the multifaceted nature of financial resilience in emerging markets, highlighting that it encompasses not only foreign reserves but also a mix of policy measures and structural reforms. He noted that while external factors like U.S. interest rate hikes    could have previously triggered significant impacts on emerging markets, they have since become more resilient. Hofman highlighted the importance of a diversified approach to policy, including transparent monetary policies and regional cooperation in currency swaps. He    also touched on the potential role of central bank digital currencies (CBDCs) in enhancing global financial stability, particularly in easing international transactions. He underscored the need for clear rules in international financial systems, particularly in the context of economic warfare, and expressed optimism about the evolving role of emerging economies in the global financial landscape.