Asia could be in for financial crisis or crash landing, officials warn
Problems brought by credit-fuelled growth may be bigger threat to region than US tightening
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Tokyo
CREDIT-FUELLED growth could end up producing financial crises in some Asian economies, a senior IMF official warned on Friday, while suggesting that this could be a greater threat to the region than any potential turbulence brought by monetary tightening in the US.
Changyong Rhee, director of the International Monetary Fund's Asia and Pacific department, said: "Many countries have relied on fiscal and monetary stimulus to produce credit- fuelled growth (and this could lead to) financial crises."
Copyright SPH Media. All rights reserved.
TRENDING NOW
Japan stocks look set for new highs in 2025 on earnings, reform
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
