The Asian Development Bank’s president predicted on Wednesday that the region’s developing countries would suffer less than expected from the global economic slowdown because of sustained investment, robust domestic demand and their lack of dependence on financial markets to raise capital.
Haruhiko Kuroda also told the Financial Times that while emerging Asia’s growth would be slower this year – and particularly in 2009 – than current ADB predictions because exports to developed nations were declining, the greatest threat remained high inflation.
