22 Nov '11, 1pm

Thailand, Malaysia at risk in global slump: Fitch

Thailand, Malaysia at risk in global slump: Fitch

SINGAPORE : Thailand and Malaysia would be the most at risk among Asia's developing countries if there were a sharp deterioration in the global economy, Fitch ratings agency said Tuesday. Indonesia is the least exposed and has a larger capacity to bring in stimulus measures should the world economy tumble sharply, analysts from the credit ratings firm said. "Both Malaysia and Thailand look highly exposed and have constrained room for policy stimulus," said Fitch analyst Philip McNicholas, citing high debt levels relative to gross domestic product (GDP). Due to its large domestic economy and its low debt-to-GDP ratio, Indonesia "is relatively the least exposed in the region," he said. Southeast Asia's biggest economy was on track for a ratings upgrade within the next 12 to 18 months, McNicholas added, but a key test will be how well Jakarta weathers an economic slowdown. Fi...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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