Tsunami to affect GDP growth: IMF

Tsunami to affect GDP growth: IMF

WASHINGTON: The economic impact in countries affected by the Dec. 26 tsunami ranges from almost none in Indonesia to as much as 5.5 percentage points in the Maldives, according to a study from the International Monetary Fund (IMF).

The IMF lowered its 2005 growth estimate for the Maldives to 1 percent from a September forecast of 6.5 percent, Sri Lanka to 5.25 percent from 6 percent, and Thailand to 5.5 percent from 6.4 percent.

The economic impact on India "is expected to be minor," the Washington-based lender said.

The magnitude-9 earthquake unleashed a tsunami that destroyed coastal areas in 12 Indian Ocean countries, killing more than 280,000 people. -- Bloomberg