The likelihood of another Asia Financial Crisis (AFC) in the future has been reduced by the efforts of all economies in the region to work together to install mechanisms for financial support, Philippine Finance Secretary Carlos Dominguez 3rd said.

Dominguez made the remark at the opening of the Host Country Seminar in Yokohama organized by the Japanese government, the Philippine Department of Finance (DoF) said in a statement released in Manila on Friday.

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