Weaker growth rather than inflation is now clearly the main risk for emerging Asian economies, but while healthy fiscal positions allow room for stimulus packages, the global credit crisis means governments will have to look to local funding sources, according to the November issue of Asia Bond Monitor ABM, released yesterday.
ôDomestic borrowing is likely to increase as funding becomes harder to access in the foreign market,ö says Jong-Wha Lee, head of ADBÆs Office of Regional Economic Integration....
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