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Asia remains firmly in lead of global recovery: IMF

25-Oct-2010 1:46 PM

International Monetary Fund (IMF) stated (24-Oct-2010) Asia remains "firmly in the lead of the global economic recovery" with strong growth in the region set to continue. The expansion in Asia exceeded expectations in 1H2010 according to the IMF prompting it to revise significantly up its 2010 growth forecast for the region to 8%. IMF added that economies across the region are expanding strongly with China and India leading the way with projected 2010 growth rates of 10.5% and 9.7% respectively. In 2011, Asia’s growth is expected to moderate to a more sustainable pace of 6.8%.