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Asian countries agree on regional foreign reserve swap
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"Risks to the outlook come from the still unfolding events in financial markets, the potential worsening of housing and credit cycles and inflationary pressures driven by high energy and food prices," they said in the joint statement.

As to the regional economy, they said it has continued its strong growth and was forecasted to remain robust although somewhat weaker.

The ASEAN+3 finance ministers' meeting was held on the sidelines of an annual gathering of the Asian Development Bank (ADB), which began here Saturday.

The four-day gathering of the Manila-based bank was largely devoted to surging food prices and the ADB's new long-term strategy to tackle poverty.

(Xinhua News Agency May 5, 2008)


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