South Asia can weather economic crisis- ADB
MANILA, March 9 (Xinhua) -- South Asian countries can weather the global financial crisis by taking both short- and long-term measures to stimulate their economies, the Asian Development Bank (ADB) said in a study released on Monday.
The study, titled The Impact of the Global Economic Slowdown on South Asia, said that the sub region has been hit by capital outflows and weaker commodity prices, and faces a sharp slowdown in exports and remittances as the global troubles worsen.
A number of short-term measures have been taken to cushion the impact of the crisis, including monetary easing and fiscal stimulus packages, said the report, adding that there is further room for interest rate reductions, particularly in India and Sri Lanka
The study, titled The Impact of the Global Economic Slowdown on South Asia, said that the sub region has been hit by capital outflows and weaker commodity prices, and faces a sharp slowdown in exports and remittances as the global troubles worsen.
A number of short-term measures have been taken to cushion the impact of the crisis, including monetary easing and fiscal stimulus packages, said the report, adding that there is further room for interest rate reductions, particularly in India and Sri Lanka
