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ASIA-PACIFIC

Economic risks tilted to downside: Escap report

The United Nations Economic and Social Commission for Asia and the Pacific (Escap) will today launch a report warning that the risks for the Asia-Pacific economies are "tilted to downside" as they await an "unravelling of the United States sub-prime mortgage problem and a slowing US economy".

Published on January 9, 2008



The report - "Key Economic Developments and Prospects in the Asia-Pacific Region 2008" - comes as the region faces new and complex challenges, said the statement from Escap.

It covers several issues, including how well the Asia-Pacific economies can manage the continued uncertainty in the international financial markets, and whether there will be further spill-over from the US sub-prime markets into Asia's financial and banking sectors - or is it an opportunity from which the region can benefit?

The report's findings will be presented by Ravi Ratnayake, director of the Poverty and Development Division (PDD) of Escap, Shamika Sirimanne, chief of the PDD's Socio-economic Analysis Section, and Shuvojit Banerjee, economic affairs officer.

The Nation


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