Asia Pacific economic outlook – April 2009 |
The April 2009 edition of the Asia Pacific economic outlook gives highlights from the IMF’s "Global Economic Policies and Prospects" and a near-term outlook for New Zealand, Singapore, and Vietnam.
New Zealand – The economy is in its worst recession in decades and the economy will likely contract in 2009. The government has introduced a supply-side only stimulus plan while the central bank has been cutting interest rates. It is likely to continue cutting rates but is near its floor.
Singapore – There are indications that the first quarter of 2009 is going to be a really bad quarter and 2009 a bad year. Reduced inflation means there is a possibility that the monetary authority will devalue the currency in a bid to boost economic growth.
Vietnam – Vietnam is likely to have a better year than some neighboring countries though growth will be sharply slower than previous years. The central bank will likely let the currency depreciate from current levels to boost exports but is probably done cutting interest rates.
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Asia Pacific economic outlook - April 2009
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