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Tapering In Advanced Economies Key Risk To Growth In Emerging Asia: IMF's Zhu

Tapering of the unconventional monetary policies in advanced economies is a key source of risk to growth and financial stability in emerging Asia, International Monetary Fund Deputy Managing Director Min Zhu said.

"Advanced economies are recovering, but overall recovery is slow and is hindered by constraints on both the demand and the supply sides," Zhu said, according to a text of his speech prepared for delivery at the High-Level Pacific Islands Conference Port Vila, Vanuatu, on Friday.

"Emerging markets are still in the lead, although they are slowing down from elevated levels in recent years," he said. Emerging Asia is expected to grow at around 6.25 - 6.5 percent in 2013-14. Growth for Asia is forecast to be around 5 - 5.5 percent in these two years.

Overall "global growth is in low gear and downside risks persist," the official added.

by RTT Staff Writer