Asia to weather markets turmoil: Standard and Poor's
Saturday, 25 August 2007
SINGAPORE, Aug 24 (AFP): Asian economies should weather any fallout from the current turmoil in global financial and stock markets sparked by a crisis in the US subprime credit sector, Standard and Poor's said today.
The credit risk evaluator said in a statement that most regional economies appear to have learned their lessons from the Asian financial crisis in 1997 and 1998.
"Asian economies have improved their banking systems, reined in fiscal deficits, brought down external debts, built up foreign exchange reserves and improved their current account balances," said Standard and Poor's credit analyst Ping Chew.
The credit risk evaluator said in a statement that most regional economies appear to have learned their lessons from the Asian financial crisis in 1997 and 1998.
"Asian economies have improved their banking systems, reined in fiscal deficits, brought down external debts, built up foreign exchange reserves and improved their current account balances," said Standard and Poor's credit analyst Ping Chew.