22 Oct 2010
Thus disclosed the Director of the International Monetary Fund (IMF) for the Asia Pacific Department, Anoop Singh, on Thursday (10/21/2010), in a press conference at the IMF Representative Office in Bank
"We welcome the steps taken so far by the policy makers to control inflation risk, but now many things that can still be made considering the continued strong growth," said Singh.
Regional Economic Outlook, shows the need for further tightening of monetary policy in many countries in
According to Singh, managing capital flows in the region is a difficult challenge because of capital flows offer many opportunities, but also carry a variety of potential risk to financial stability.
"Balancing the re-growth Asian economies remain the most important policy priority in the medium term," said Singh.
He continued, given the external demand from developed countries less likely to return to pre-crisis levels in the near future, then
"Various kinds of reforms needed to support domestic consumption and investment, including strengthening social safety nets, ensuring access to credit, reduce barriers to service sectors, as well as infrastructure improvements," said Singh.
Exchange rate appreciation, he added, is an important part of the rebalancing process. "Naturally, with Asian economies grew stronger, their currencies will also be strengthened," said Singh.
By : Anoop Singh (IMF Asia-Pacific)
Source : Compass
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