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Asia Still Leading Global Recovery

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International Monetary Fund  India  China  Asia  IMF  Anoop Singh 

Asia Still Leading Global Recovery

By - Monday 18 October 2010

The International Monetary Fund (IMF) has predicted that Asia will continue to lead the global economic recovery in the forthcoming months. In particular this resurgence will be driven by the performance of China and India.

However, there are still several risks that remain, Anoop Singh, director of the Asia and Pacific department at the IMF, claimed. Countries must be expected to arrange their own exit from stimulus measures, weaker recoveries in advanced economies could slow private demand in the region and there needs to be a shift from the current reliance on exports.

"We expect Asia to continue leading the global recovery in the near term and to grow by eight per cent in 2010, before moderating to a more sustainable rate of about seven per cent in 2011," Singh said.

The speed at which economies in the region are recovering has been varied. This reflects a global trend in which countries all over the world are emerging from the crisis at different rates.

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