Asia's developing countries are risking a renewed economic crisis by intervening extensively in foreign exchange markets, the Asian Development Bank warned in its annual regional review on Tuesday.
The ADB, which gives financial and technical assistance to more than 40 developing countries, forecast economic growth of 7.5 per cent this year, moderating slightly to 7.3 per cent in 2011 as the impact of extraordinary monetary and fiscal policies dissipates.
However, the bank said the region's robust recovery from the global financial crisis could be put at risk by widespread intervention in the currency markets by countries seeking to maintain or improve export competitiveness.
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