It is imperative that greater resources flow into these countries to help sustain growth. The current favorable financial market conditions, no doubt, provide an opportunity for these countries to steer ahead with remaining structural reforms and achieve greater fiscal and external sector sustainability. Among the developing countries, emerging countries in Asia continue to remain a bright spot.
They have shown extraordinary resilience in the face of the recent global slowdown and continue to exhibit healthy recovery. While timely and complementary policy actions taken by a number of countries to facilitate the revival of external demand and expand intra-regional trade are promising, medium-term prospects would depend on the recovery in major industrial countries.