Prolonged economic downturn will hurt east Asia's poor, reforms more vital than ever.

0 Comments | M2 Presswire, October, 2001

M2 PRESSWIRE-17 October 2001-WORLD BANK: Prolonged economic downturn will hurt east Asia's poor, reforms more vital than ever (C)1994-2001 M2 COMMUNICATIONS LTD RDATE:16102001 WASHINGTON -- The terrorist attacks on the United States will hurt the poor in East Asia by prolonging the region's economic slump, the World Bank said today.

To minimize the economic damage, it is even more critical that countries across the region press ahead with reforms - especially to their banking, financial and legal systems - so they can benefit more quickly and fully from the global recovery which should gather steam next year. The attacks, coming at a time when the region was already suffering from the sudden end of the technology boom, will slow investment...