Debt has ballooned in developing Asia following the 2008-2009 global financial crisis, supported by plentiful global liquidity. With the US Federal Reserve about to raise interest rates, data from the Asian Development Outlook 2015 gives a clearer picture about the possibility of a credit slowdown in the region.
ADB and the Islamic Financial Services Board launched today a new publication about how Islamic finance can contribute to sustainable growth in Asia. Here are a few highlights.
As developing Asia looks to continue boasting robust economic growth in the future, experts at a joint ADB-IMF seminar during ADB’s Annual Meeting in Baku discussed how the region’s financial sector needs to transform itself to deliver stable, inclusive, long-term results.
What can ADB learn from IFC’s experience promoting inclusive business, and what are the main challenges and opportunities in the region?
Migrant remittances, a lifeline for many developing countries in Asia and the Pacific, have grown dramatically with barely any support by the public sector or donor agencies. A recent ADB forum discussed how governments can make better use of this money to create domestic job opportunities.
The Asian Development Outlook 2015 highlights how developing Asia’s financial development still lags the advanced economies by a wide margin despite good progress. What can we do to bridge that gap, and also ensure ensure the region’s financial sector grows in a stable, inclusive way?
To ensure ongoing economic growth in Asia and for the poorest to have a chance to benefit from the region’s growing prosperity, we must prioritize bringing financial services readily and cheaply to the “unbanked”.
More than 4.4 million poor Filipino families receive regular cash grants from the government to help them make ends meet. But they aren’t getting money for nothing—there is a catch: families only get the cash if their children go to school and get regular health check-ups, and if the parents go to family development sessions every month.
Every year, millions of people cross borders to work abroad. People migrate for various reasons, but for the majority of migrant workers, they are compelled by poverty and lack of job opportunities in their home countries.
As 2015 gathers pace, the world seems to be entering a more uncertain and unpredictable phase. With the end of quantitative easing by the Federal Reserve, we are entering an era of tighter global liquidity.