Meanwhile, work to verify the adequacy of coverage ratios continues, in some cases also taking in the whole credit portfolio. The opinion, voiced repeatedly during the crisis, that Italy’s banking system stands in dire need of recapitalization is unfounded. Only a few days ago the International Monetary Fund published the results of its periodic Financial Sector Assessment Program for Italy.
The strong growth in Asia was mainly the result of substantial inflows of foreign direct investment and the stimulation of intra-regional trade by the rapid economic expansion in China.