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. Last Updated: 07/27/2016

IBCA Hails Progress

KUALA LUMPUR, Malaysia -- Most of Asia's crisis-hit countries have turned the corner but banking and corporate reforms must be extended to sustain economic growth, said international rating agency Fitch IBCA on Monday.

Apart from Indonesia where banks are still in deep distress, the worst-hit countries of South Korea, Malaysia and Thailand are well on the path to recovery, said Sam Chin, managing director at Fitch IBCA Pte Ltd. "I think definitely, at least for Malaysia, South Korea and Thailand where you've seen a strong turnaround in the current account surplus and projections of positive economic growth, this year things have turned around."