Asian Development Bank President Takehiko Nakao said on Thursday he did not expect U.S. interest rate rises to trigger a financial crisis in Asia, but the bank remains ready to lend support to vulnerable countries.
The U.S. Federal Reserve is widely expected to raise interest rates for the first time in almost a decade at its next meeting Dec. 15-16, raising some concern about capital flows out of Asia and emerging economies.
But Nakao, a former Japanese vice finance minister for international affairs, said Asia’s financial systems had strengthened since the crisis of the late 1990s.
