News:

- IMF said on Thursday that downside risks in Asia are rising due to Europe's debt woes and a U.S. slowdown

- IMF slashed 2012 growth forecasts for developing Asian countries as well as for Japan, citing slower growth in the rest of the world.

- IMF reiterated that Asia policymakers should be able to quickly reverse the course, and added that foreign investors likely to reverse their large Asia positions.

Real-Time News from FxWire Pro. Hurry offer ends Oct 30 2011.  

Quotes:

- The sell-off in Asian financial markets in August and September 2011 underscores that an escalation of euro area financial turbulence and a renewed slowdown in the United States could have severe macroeconomic and financial spillovers to Asia
IMF