Global growth is in low gear and downside risks persist- Min Zhu, Deputy Managing Director, IMF

A key source of risk to growth and financial stability in several of emerging Asia economies is tapering of the unconventional monetary policies in advanced economies, said Min Zhu, Deputy Managing Director, IMF, in a conference. However, he did not specify the countries name getting affected by the advanced economies policies.

He forecasted growth for Asia to be around 5 percent - 5.50 percent in 2013-14. In the case of emerging Asia, output is expected to grow at around 6.25 - 6.50 percent in these two years.

While speaking at welcome remarks at the High-Level Pacific Islands Conference, he stated, Global growth is in low gear and downside risks persist. Advanced economies are recovering, but overall recovery is slow and is hindered by constraints on both the demand and the supply sides. Emerging markets are still in the lead, although they are slowing down from elevated levels in recent years.

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