IMF’s Furusawa: US growth uncertain due to policy uncertainty

The IMF’s deputy managing director Mitsuhiro Furusawa crossed the wires last hour, via Reuters, making a scheduled speech at an event in Tokyo.

Key Headlines:

Uncertainty remains over US growth projections due to uncertainty about new administration's policy stance

Rising protectionism in advanced economies could affect Asia's prosperity

Asia continues to perform strongly, near-term outlook remains strong but downside risks dominate

Financial conditions in Asia have tightened after US election, currencies have depreciated vs dollar, capital inflows have been reversed

Uncertainties could contribute to financial volatility in coming months

China's reliance on policy stimulus is another risk

Flexible exchange rates, timely use of macroprudential policies together with stronger reserves buffers will be helpful