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Friday, 12 October 2012 - 13:36
Asia growth to slow, but to remain fastest in world: IMF
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The International Monetary Fund has downgraded Asia growth to 5.4 percent in 2012 from 6.0 percent with European troubles hurting export demand and domestic slowdowns in India and China.

Asian growth in the first half of 2012 was the lowest in 2008, the IMF said releasing its World Economic Outlook report for the Asia Pacific region.

Sri Lanka would grow by 6.7 percent, down from an earlier forecast of 7.4 percent, Bangladesh 6.1 percent, up 0.2 from an earlier forecast.

India, which has experienced trouble due to foreign exchange interventions by the Central Bank which has sent the rupee tumbling is expected to grow 4.9 percent in 2012, down from a earlier expected 6.9 percent.

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