News Snapshot:
THE INTERNATIONAL Monetary Fund (IMF) on Tuesday revised down its 2021 economic growth forecast for Asia to 6.5 percent, down by 1.1 percentage points from its April projection, according to a newly released regional economic outlook. "The resurgence of the pandemic, amid initially low vaccination rates, slowed the recovery in the Asia-Pacific region, especially in emerging market and developing economies," Changyong Rhee, director of the IMF's Asia and Pacific Department, said at a virtual press conference. Noting that the Asia-Pacific remains the fastest-growing region in the world, Rhee said as vaccination rates accelerate, the region is expected to grow by...
