Citing concerns over the expanding European debt crisis and the slowing U.S. economy, the International Monetary Fund (IMF) has reduced its outlook for Asia. The new outlook is for 6.3 percent growth for 2011 and 6.7 percent growth in 2012 – the original expectation was for 7.0 percent growth for both years.
The IMF also advised that an outflow of capital from Asia could further hinder growth. The IMF feels investors may opt to close-out their Asian positions in order to take profits that have accrued since 2009.
Source: BBC News>/a>
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