Thursday, October 22, 2009
Asia expects to grow by 5.75 percent
2:04 PM | 
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WASHINGTON: The IMF's most recent World Economic Outlook forecasts global economic contraction of about one percent this year and expansion of around three percent next year.At the same time, Asia is expected to grow by 2.75 percent this year and by 5.75 percent in 2010.
Some Asian nations -- particularly advanced and export-dependent economies that have experienced a relatively large cyclical weakening of their fiscal positions -- plan to withdraw stimulus next year amid recovery signs, the Washington-based IMF said.
"However, these plans should proceed cautiously until the recovery seems assured," deputy IMF managing director John Lipsky warned.
He asked them to enhance "fiscal credibility" by announcing "concrete medium-term
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