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blank.gif (49 bytes)11/02/1999, updated at 16:00        blank.gif (49 bytes)weather.gif (982 bytes)archive.gif (946 bytes)search.gif (947 bytes)

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ADB: Asia's Economy Will Be Back on Foot this Year

  The current financial crisis has hit its bottom and the Asian economy will recover this year, but the growth rates might be far below that before the crisis, according to the president of the Asian Development Bank (ADB).

  The speed of Asia's recovery will depend on economic readjustments of related countries, especially the reform and reorganization of banks and enterprises, the president said, adding that the biggest problem affecting Asian economic recovery is an insufficiency of capital inflow to this region.

  ADB will attach importance to eradicating poverty and help related countries to establish a perfect social guarantee system to eliminate the social effects of the crisis.

WorldNews 1999-02-11 Page7

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