4 May, 2011
Source: nasdaq.com
HANOI -(Dow Jones)- Rising inflation and large capital flows in some countries have complicated policy setting, and challenged sustainable economic growth, Asian finance ministers said Wednesday.
In a joint communique released following meetings in Hanoi, Asean+3 finance ministers highlighted new uncertainties, including turmoil in the Middle East and North Africa and the consequences of Japan's earthquake.
The Association of Southeast Asian Nations comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The Asean+3 grouping includes China, Japan and South Korea.
"The economic growth in the region, after having weathered the global financial crisis, has been resilient owing to robust domestic demand and buoyant exports," the finance ministers said in a statement.
"However, we are mindful of the risk factors, such as rising inflation coming from higher commodity and food prices and large capital flows in some countries, which have complicated the task of macroeconomic policy management and have challenged sustainable economic development of the region."
The officials said they were "determined" to remain vigilant to any risks to the region's economic development, and highlighted the importance of fiscal soundness to achieve sustainable economic development.
"In dealing with the large capital flows, we shared the view that it is important to take macroeconomic and other policies in a comprehensive manner, including macroprudential measures when necessary," they said.
-By Natasha Brereton, Dow Jones Newswires, +65-6415-4044, natasha.brereton@ dowjones.com
No comments:
Post a Comment