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However, there are significant challenges that the region has to address including taking appropriate policies to maintain stable macroeconomy promote prudent financial policies adopt sound regulatory practices There are also significant downside risks in the near-term outlook if the global slowdown persists. To read, you need Acrobat. Oxford University Press is a department of the University of Oxford. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of the Asian Development Bank.