XML Feed for RxPG News   Add RxPG News Headlines to My Yahoo!   Javascript Syndication for RxPG News

Research Health World General
 
  Home
 
 Latest Research
 Cancer
 Psychiatry
 Genetics
 Surgery
 Aging
 Ophthalmology
 Gynaecology
 Neurosciences
 Pharmacology
 Cardiology
 Obstetrics
 Infectious Diseases
 Respiratory Medicine
 Pathology
 Endocrinology
 Immunology
 Nephrology
 Gastroenterology
 Biotechnology
 Radiology
 Dermatology
 Microbiology
 Haematology
 Dental
 ENT
 Environment
 Embryology
 Orthopedics
 Metabolism
 Anaethesia
 Paediatrics
 Public Health
 Urology
 Musculoskeletal
 Clinical Trials
 Physiology
 Biochemistry
 Cytology
 Traumatology
 Rheumatology
 
 Medical News
 Health
 Opinion
 Healthcare
 Professionals
 Launch
 Awards & Prizes
 
 Careers
 Medical
 Nursing
 Dental
 
 Special Topics
 Euthanasia
 Ethics
 Evolution
 Odd Medical News
 Feature
 
 World News
 Tsunami
 Epidemics
  Hemorrhagic Fevers
  Avian Influenza
  Cholera
  Poliomyelitis
 Climate
 Business
Search

Last Updated: Aug 19th, 2006 - 22:18:38

Avian Influenza Channel
subscribe to Avian Influenza newsletter

World News : Epidemics : Avian Influenza

   DISCUSS   |   EMAIL   |   PRINT
Bird flu small dark cloud on world economy: IMF
Apr 12, 2006, 13:29, Reviewed by: Dr. Priya Saxena

"The centre of gravity of growth in financial services continues to shift toward the large and rapidly growing economies of India and China,"

 
Despite an upbeat report card on the workings of the world's financial systems, the International Monetary Fund Tuesday saw a few dark clouds on the horizon - including worries about the impact of a potential bird-flu pandemic.

A global avian flu outbreak in humans could cause high absenteeism in the financial industry, interfering with payments, clearing, settlements, trading and communications, the IMF warned in its periodic evaluation of the international finance systems, the Global Financial Stability Report.

In addition, the IMF noted that rising interest rates and tighter credit for the corporate and private sectors might have "somewhat" increased medium-term risks to financial stability in the last six months.

Elsewhere on the financial scene, the good news seemed to counterbalance concerns, and any cyclical uncertainties for financial markets in 2006 could be defined as "not bad, but not as good as the stellar year 2005," the IMF said.

Concerns over bird flu, which has killed 109 people over the last few years but not made the feared leap to a human epidemic, prompted the IMF to urge large financial institutions to plan "for work from home, heavy demand for cash by the public and transport of key personnel whose functions cannot be done from home."

"The outbreak of avian flu could threaten global financial markets," the IMF warned. It could also lead to a "significant but temporary reduction" in net capital flows to emerging economies, the IMF said.

The IMF urged countries that do not yet have bird-flu plans for their financial systems to establish emergency committees that include central bank officials.

The report was based in part on informal discussions with commercial and investment banks, securities firms, asset management companies and other elements of the world financial system.

In other conclusions from the report, the IMF said: Financial systems have strengthened in emerging markets, attracting a 41 percent increase in direct investments last year over 2003. That increase applied to emerging Europe, Central Asia, Asia and Latin America. In 2004 alone, $180 billion flowed to emerging markets.

"The centre of gravity of growth in financial services continues to shift toward the large and rapidly growing economies of India and China," the IMF said.

The organisation warned that there were risks in the rapid growth of private credit in "a number of Southeast Asian countries" and in the dominance of state-owned banks in India and China.

In the Middle East, Central Asia and Africa, high commodity prices were driving developments, and the IMF warned that a sharp reversal in oil prices "could have adverse effects on the financial systems in some of these countries."

Further hikes in oil prices could "create headwinds in financial markets" by pushing up interest rates, slowing growth and putting downward pressure on equity markets, the IMF warned.
 

- Indo-Asian News Service
 

 
Subscribe to Avian Influenza Newsletter
E-mail Address:

 



Related Avian Influenza News

Are Flu Vaccines Worth the Effort?
Lessons from SARS may help prepare for bird flu
Incomplete vaccination could worsen the spread of avian flu
Scientists aim to thwart use of flu as bioweapon
Pakistani poultry industry demands 10-year tax holiday
Pandemic prevention plan approved for Asia Pacific
H5N1 threat puts human flu back in spotlight
Bird flu hits ninth poultry farm in Pakistan
Conjunctivitis caused by H7 avian influenza in a UK poultry worker
Bird flu strain makes Britain slaughter chicken


For any corrections of factual information, to contact the editors or to send any medical news or health news press releases, use feedback form

Top of Page

 

© Copyright 2004 onwards by RxPG Medical Solutions Private Limited
Contact Us