IMF Says Asia Has Room for Stimulus |
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January 1, 2012
Asia has so far proved resilient to the European debt crisis and slowing global growth, and countries in the region have room to take growth-boosting steps in case of a sharp downturn, the International Monetary Fund said.
As an extra layer of insurance against global shocks, Asian nations are moving to bolster an emergency fund they could tap in a dire scenario such as a euro-zone breakup.
European leaders agreed Monday night on a pact to move to closer fiscal union and to sign off on the details of a €500 billion ($380.4 billion) permanent bailout fund for the euro zone.
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