BUSINESS

IMF says Asia to lead growth in 2015 despite China slowdown

Staff Writer
Columbus CEO

TOKYO (AP) — The International Monetary Fund says Asian economies will grow at a 5.6 percent pace in 2015 as recoveries in India and Japan help to offset the slowdown in China.

IMF economists expressed concern Thursday, however, over the potential for weaker growth if policy makers in the region fail to follow through with needed changes, saying it was a time not for "alarm but it is a time for alert."

The IMF's regional economic outlook forecasts that growth in the Asia-Pacific region will moderate to 5.5 percent in 2016.

Rising levels of debt and potential financial market disruptions are other risks to growth.

Changyong Rhee, director of the IMF's Asia and Pacific Department, pointed to efforts by Chinese financial regulators to rein in margin trading as a positive step.