Economic news
ADB head: Developing Asia’s growth robust, tightening global finances a risk
2023.04.26 21:57
© Reuters. FILE PHOTO: President of the Asian Development Bank (ADB) Masatsugu Asakawa speaks at the Sydney Energy Forum in Sydney, Australia July 12, 2022. Brook Mitchell/Pool via REUTERS
(Reuters) – Asia’s developing economies have seen “very robust” growth but face risks from tightening global financial conditions due to rapid U.S. and European interest rate hikes, Asian Development Bank (ADB) President Masatsugu Asakawa said on Thursday.
In an online event, Asakawa also said stronger-than-expected growth in China’s economy may put additional inflationary pressure on global food prices.
