Asian economies are no longer in crisis

• GDP growth bounced to 6.1 percent in 1999
• Exports led recovery process
• Short-term foreign debt levels more manageable
• Foreign exchange reserves higher
• Banking sectors restructured and recapitalized

Asian economies are at varying stages of recovery

• Republic of Korea is Asia's top performer.
  • Cash flow positions of banks and corporations have improved
  • Increased credit flows facilitated domestic demand
• Malaysia restructured bad loans and recapitalized banks
• Singapore benefited from corporate and financial reforms
• Indonesia, Philippines, and Thailand are the slow performers beset by political as well as economic reform problems

 

Panel discussions will center on:

Achievements and Threats to Asian Recovery