The recent financial stress in India had contributed to greater vulnerability of corporate and bank balance sheets and a further downward revision of growth forecasts, the International Monetary Fund (IMF) has said.
But, the overall impact of the financial crisis so far has been manageable in Asia though some countries have been subject to greater stress, IMF said in a report released on Friday.
The report says Asia has not been spared by the recent re-pricing of financial assets in emerging markets, encountering a wave of capital outflows in the past few months.
But, the overall impact of the financial crisis so far has been manageable in Asia though some countries have been subject to greater stress, IMF said in a report released on Friday.
The report says Asia has not been spared by the recent re-pricing of financial assets in emerging markets, encountering a wave of capital outflows in the past few months.