Bloomberg News

IMF’s Zhu Min Says Asia Economy Has Large Exposure to EU Banks

December 09, 2011

Dec. 9 (Bloomberg) -- Asian economies have a “large” exposure to European banks, International Monetary Fund Deputy Managing Director Zhu Min said in a statement today.

Asia has not decoupled from developed nations, according to a transcript of a speech he gave at a forum in Shanghai today.

Zhu said there is evidence that some major European banks are withdrawing funds from emerging markets, a move which will have a significant effect on the supply of credit in the region, according to the transcript of his speech posted on IMF’s website.

To contact the editor responsible for this story: Nerys Avery at navery2@bloomberg.net


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