IMF: Asian economy to grow 7 percent in 2011-12
Associated Press, Hong Kong | Thu, 04/28/2011 1:49 PM
The International Monetary Fund is forecasting strong Asian economic growth of close to 7 percent this year and next.
The IMF said in a report released Thursday that China and India will lead Asian growth.
The report warned that there are signs of overheating, with inflation in Asia rising to 4.5 percent in February. Higher oil and food prices are starting to feed into broader inflation and will affect the poor.
Inflation will continue to rise this year before slowing modestly in 2012.
The report warned of other risks, including turmoil in the Middle East and North Africa that threatens to drive up oil prices. It also warned about uncertainties over the effects of Japan's deadly tsunami last month.
