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Credit rating agencies have their eyes trained on the fiscal health of economies in developing Asia.   © Nikkei montage/Source photo by Getty Images
Asia Insight

Asia faces financial health check after going big on stimulus

Countries must spend wisely or leave future generations under piles of debt

MASAYUKI YUDA, Nikkei staff writer | Thailand

BANGKOK -- Governments across Asia are unleashing massive stimulus packages to support economies heading into recession as the novel coronavirus batters consumption and investment, threatening progress in shoring up fiscal and monetary policy management following previous crises.

Economists agree swift action is essential. Credit rating agencies, however, have their eyes on national fiscal health. Policymakers thus have to spend their conjured funds wisely to avoid loading future generations with perpetual debt while dodging damaging short-term credit downgrades.

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