Asian Nations Must Take Coordinated Action: World Bank Official

Friday, May 22, 2009

TOKYO (Nikkei)--Asian nations must take coordinated action to recover from the economic crisis, said Sarah Cliffe, World Bank Director of Strategy and Operations for the East Asia and Pacific Region, on Thursday.

Cliffe presented her remarks during a panel discussion at the annual Future of Asia forum in Tokyo.

The official said that government policies such as economic stimulus measures are important at the national level while regional organizations such as the Association of Southeast Asian Nations can coordinate to encourage countries to take action.

As for an economic recovery in East Asia, Cliffe said there are signs of bottoming out and that China is in the early stages of recovery. However, she stressed that the worst is not yet over.

Titles of speakers, names of companies, etc., were correct as of the time when the forum was held.