IMF / ASIA

Preview Language:   Original
ENGLISH 21-Apr-2017 00:02:33
Asia and the Pacific’s economic outlook is robust, but significant risks remain, according to the International Monetary Fund (IMF). Asia’s growth is forecast to accelerate in 2017 to 5.5 percent, up from 5.3 percent in 2016. IMF
Type
Language
Format
Acquire
Original
HD PAL
Original
HD NTSC
Original
SD PAL
/
English
Other Formats
Description
STORY: IMF / ASIA
TRT: 02:33
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 21 APRIL 2017, WASHINGTON, DC

SHOTLIST:

1. Wide shot, Asia and Pacific Department briefing
2. Med shot, reporters at briefing
3. SOUNDBITE (English) Changyong Rhee, Director of the Asia and Pacific Department, International Monetary Fund (IMF):
“The outlook for the region remains quite robust. Actually, it’s the strongest in the world. And, the recent data points to a pickup in growth momentum in Asia. Second, there are some upside risk, upside potential to near-term growth, such as the broad-based cyclical recovery, in particular in large economies in Asia, such as China and also globally, the United States. However, the outlook is also clouded by significant downside risks, such as geopolitical tension, inward-looking trade policies and rapid financial market tightening.”
4. Close up, reporter asking a question
5. SOUNDBITE (English) Markus Rodlauer, Deputy Director of the Asia and Pacific Department, International Monetary Fund (IMF):
“Growth in the first quarter has surprised almost across the whole range of indicators and good growth came in at 6.9. All the high frequency indicators, almost all of them are very strong. The reason for high growth is several. One, fiscal -- and causing fiscal stimulus, create expansion, was very high. The real estate sector is very strong, and the external environment of course has also improved. So we have raised our annual forecast to 6.6 from 6.5. And we have to look again at that forecast, and there is upside risk and we may very well revise it up further in the Article IV even though we do see also some likelihood that some of this strong momentum will slow in the second half.”
7. Med shot, reporters
8. SOUNDBITE (English) Kenneth Kang, Deputy Director of the Asia and Pacific Department, International Monetary Fund (IMF):
“In our forecast, we did reflect the temporary dislocation associated with the scheme. We had lowered our forecast by almost a full percentage point compared to the October WEO for this year and about a half a percent for growth next year. That being said, we are seeing signs that the impact of demonetization has abated. Some estimates point to about 75 percent of the cash has been replaced in the economy. And, recent indicators such as industrial production and PMI have recovered nicely.”
9. Med shot, IMF officials
10. Wide shot, IMF officials at end of briefing

STORYLINE:

Asia and the Pacific’s economic outlook is robust, but significant risks remain, according to the International Monetary Fund (IMF). Asia’s growth is forecast to accelerate in 2017 to 5.5 percent, up from 5.3 percent in 2016.

This makes Asia the leader of global economic growth, IMF economists said today (21 Apr) during briefing about Asian and Pacific countries. But they pointed to significant downside risks that need to be addressed.

Changyong Rhee, Director of the Asia and Pacific Department at the IMF, said “the outlook for the region remains quite robust.” However, he said, “the outlook is also clouded by significant downside risks, such as geopolitical tension, inward-looking trade policies and rapid financial market tightening.”

Deputy Director Markus Rodlauer noted that growth in the first quarter “has surprised almost across the whole range of indicators and good growth came in at 6.9.”

The reason for this high growth, he said, is “one, fiscal -- and causing fiscal stimulus, create expansion, was very high. The real estate sector is very strong, and the external environment of course has also improved.”

For his part, Deputy Director Kenneth Kang said “in our forecast, we did reflect the temporary dislocation associated with the scheme. We had lowered our forecast by almost a full percentage point compared to the October WEO for this year and about a half a percent for growth next year. That being said, we are seeing signs that the impact of demonetization has abated. Some estimates point to about 75 percent of the cash has been replaced in the economy. And, recent indicators such as industrial production and PMI have recovered nicely.”
Series
Category
Geographic Subjects
Creator
IMF
Alternate Title
unifeed170421g
Asset ID
1873556