ASIAN COUNTRIES IN BETTER POSITION TO WITHSTAND FINANCIAL TURMOIL, SAYS IMF

KUALA LUMPUR, Dec 3 (Bernama) -- The International Monetary Fund (IMF) sees
Asian countries in a better position now to withstand the current financial
turmoil compared to what happened during the 1997/1998 Asian Financial
crisis.

IMF resident representative in Singapore for Asia and Pacific Department,
Dr
Harm Zerbregs said the balance sheet of corporate and banking sectors were in
good shape.

"We don't see any immediate threat to any countries in the region due to
the
economic crisis although several are more vulnerable than others," he told
reporters on the sidelines of the National Economic Outlook Conference 2009-2010
here Tuesday.

He also pointed out that there was no countries in the region seeking its
assistance to date.

Meanwhile, Zerbregs expects countries like Korea, Taiwan, Singapore and
Hong Kong which now face an economic slowdown, to make a quick recovery.

"As soon as the global economy takes off, these countries will benefit
from the upturn," he said.

IMF projected the global growth recovery would take shape by the third
quarter next year or towards the end of it, he added.

-- BERNAMA