Asian Development Bank warns Pacific of sharp downturn

[Stacey King]

ABC RADIO AUSTRALIA 5 May 2009

The Asian Development Bank has told Pacific Islands finance ministers that the impact of the global financial crisis on the region is worse than expected, and country-specific action plans are now needed. The finance ministers were in Bali over the weekend for the bank's Board of Governors meeting. At a special Pacific-only consultation on Saturday, the bank's Pacific Director-General, Hafeez Rahman, launched a new report containing the Bank's assessment of the impact of the financial crisis on the Pacific. The report is called Taking the Helm.

Presenter: Jemima Garrett
Speaker: Craig Sugden, Chief Pacific Economist with the Asian Development Bank and author of Taking the Helm

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