Asia poised for strong growth: IMF<\/p>\n
WASHINGTON (AFP): Asian countries excluding Japan have made
\nstunning comebacks from the deep recessions of 1998 and will
\ncontinue to deliver strong growth in the coming two years, the
\nInternational Monetary Fund said on Wednesday.<\/p>\n
"The momentum of economic recovery in Asia increased
\nsignificantly in 1999, with growth exceeding -- by a wide margin
\nin some countries -- earlier expectations," the IMF said in its
\nWorld Economic Outlook.<\/p>\n
"This recovery is projected to continue in 2000 and to become
\nmore evenly balanced across most of the advanced and developing
\ncountries of the region."<\/p>\n
Indonesia, the hardest hit by the Asian financial crisis,
\nmanaged 0.2 percent growth in 1999 and is expected to post growth
\nof 3 percent in 2000 and 3.5 percent in 2001, the forecast said.<\/p>\n
Leading the pack in Asia in 1999 was South Korea, which grew
\nat a sizzling 10.7 percent rate in 1999 after a 6.7 percent
\ncontraction in 1998. The IMF said South Korea's economy would
\ngrow 7 percent in 2000 and 6.5 percent in 2001.<\/p>\n
Singapore posted growth of 5.4 percent in 1999, and that pace
\nwill accelerate to 5.9 percent in 2000 and six percent in 2001,
\nthe report said.<\/p>\n
Other Asian nations -- Bangladesh, India, Malaysia, Pakistan,
\nthe Philippines, Thailand and Vietnam -- are due to grow at a
\nrate of at least four percent in 2000 and 2001, according to the
\nIMF.<\/p>",
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