Ms. Wanda S. Tseng

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  palm.nber.org/reporter/spring00/conferences/korea.html - [Cached Version]
  Published on: 1/13/2002    Last Visited: 1/9/2003  

  Wanda Tseng, Deputy Director, Asia and Pacific Department, IMF

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  www.imf.org/external/np/tr/2007/tr070125.htm - [Cached Version]
  Published on: 1/25/2007    Last Visited: 12/6/2007  

  Ms. Wanda Tseng, Deputy Director of IMF's Asia and Pacific Department
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  I have here with me Ms. Wanda Tseng who is the Deputy Director of the Asia and Pacific Departments of the IMF and Mission Chief for India, as well as Mr. Charley Kramer who heads the division that deals with India.
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  Ms. Tseng will make some opening remarks and then we will take your questions.
  
  Before we begin, let me just go over some ground rules.This is an on-the-record conference call, the PIN, Ms. Tseng's remarks, and the contents of this call are embargoed until 9:30 a.m. today, Washington, D.C. time, which is 1430 GMT.Wanda?
  
  MS. TSENG: Good morning.
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  MS. TSENG: Thank you for those questions.
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  MS. TSENG: I think the $350 billion you mentioned is the number cited by the new plan that has been revealed and this is sort of the target or the objectives of the authorities in order to raise growth to the 9 to 10 percent range.So this is certainly something that the government is placing a high emphasis on, and we also think it is very important to sustain the growth and also to raise it even, trend growth to 9 to 10 percent to deal with the infrastructure deficit that is pervasive in India.
  
  QUESTION: When you talked about overheating and you were talking about the RBI's attempts to curb it, is that almost certain to result in some form of high rates of interest which I presume then would reduce the rate of growth?Can they control the overheating without reducing the rate of growth?
  
  MS. TSENG: First of all, on the measures, the RBI has taken a range of measures as you may know to remove monetary accommodation and rein in of credit growth which includes increases in policy rates, this includes open market operations, and this also includes various prudential measures to help to address the credit quality issue.Obviously in a growing economy like India, it is very hard to estimate the so-called output gap because potential growth is ever changing given the structural changes in the economy, but we are seeing that there are potential risks of overheating.So obviously some moderation in growth will not be unwelcome, but what we are emphasizing is that this moderation of growth is in the context of still strong growth and also it would help to preserve financial stability which will be helpful for growth going forward.
  
  QUESTION: I have two questions.One is relating to which Ms. Tseng and others at the IMF are worried about, the fiscal deficit.Is it fair to say that India is now at the stage where it is turning the corner on this issue?That is the first question.The second question I have is the impact of subsidies on the overall growth rate.What is the IMF's take on that?
  
  MS. TSENG: Let me just start to answer it and I will ask Mr. Kramer, the Division Chief for India, to follow-up.
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  And as Ms. Tseng noted, the fiscal accounts are in the best position in over a decade, and this year in particular we expect that they will overperform on their budget targets, so we have seen very good progress recently.
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  MS. TSENG: There is a major upgrade by about 1 percentage point.
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  MS. TSENG: Yes, we do this every year when we complete the Article IV discussions with our Executive Board, so we look forward to seeing you next year around this time.

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  www.asiabusinessconference.org/files/archive/2002/abc_p - [Cached Version]
  Published on: 2/1/2002    Last Visited: 3/28/2007  

  Mr. Homi Kharas, Chief Economist, World Bank | Mr. Robert G. Lees, Secretary General Emeritus, Pacific Basin Economic Council | Mr. Gary L. Rogers, Vice Chairman of the Board and Executive Officer of General Electric Company | Mr. Myoung-Ho Shin, Vice President, Asian Development Bank | Dr. Dong-Sung Cho, Dean, College of Business Administration, Seoul National University | Mr. Ya-Fei He, Minister and Deputy Chief of Mission, Chinese Embassy to US | Mr. Rudolph A. Schlais, Jr., Group Vice President, General Motors Corporation, President and CEO, General Motors Asia Pacific | Moderator: F. Warren McFarlan, Professor, Harvard Business School | Mr. Ko Kheng Hwa, Managing Director, Singapore Economic Development Board | Ms. Wanda S. Tseng, Deputy Director Asia Pacific, International Monetary Fund | Moderator: Ya Sheng Huang, Professor, Harvard Business School
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  Ms. Wanda S. Tseng, Deputy Director Asia Pacific, International Monetary Fund
  
  Ms. Tseng is Deputy Director in the Asia and the Pacific Department of the International Monetary Fund, where she is in charge of the IMF's work on India and China.She led the IMF's work on the programs with Korea during November 1997 to mid-1998, and has worked on other Asian economies, including Malaysia, Thailand, and Singapore.She was Deputy Secretary of the IMF from 1995 to 1997.Prior to joining the IMF, she was staff economist on international macroeconomics and trade on the Council of Economic Advisors.She received her PhD in economics from the University of Maryland.

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  chinaeconomywatch.blogspot.com/2006_05_01_archive.html - [Cached Version]
  Published on: 5/1/2006    Last Visited: 5/12/2007  

  Wanda Tseng, deputy director of the IMF's Asia and Pacific department, praised the Chinese authorities for reacting "relatively early" to the problem but described the rate increases - which included a rise of 27 basis points to 5.85 per cent for the one-year benchmark rate - as "very small" and "probably just symbolic".
  
  The IMF report forecasts Asia-Pacific economic growth of 7 per cent this year.
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  Although Asian domestic demand has improved, Ms Tseng warned: "Asia is still very dependent on external demand in the advanced countries."
  
  Current account surpluses are already diminishing in most Asian countries, in part because of higher oil import bills and the transfer of the surpluses to oil exporters.In India and east Asia, excluding Japan and China, the aggregate surplus is expected to fall to less than 3 per cent of gross domestic product this year, about half the level of 2004.
  
  But in China, the IMF said, the current account surplus was likely to remain at 7 per cent of GDP this year after more than doubling in 2005.While rejecting calls from US politicians for a dramatic 20-50 per cent one-off revaluation of the renminbi, IMF officials such as Ms Tseng are urging Beijing to use its new exchange rate system more "flexibly".

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  www.asiabusinessconference.org/files/archive/2002/abc_t - [Cached Version]
  Published on: 2/1/2002    Last Visited: 3/28/2007  

  Ms. Wanda S. Tseng, Deputy Director Asia Pacific, International Monetary Fund
  
  Moderator: Ya Sheng Huang, Professor, Harvard Business School

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  AP Executive Morning Briefing: Financial News - Yahoo!... - [Cached Version]
  Published on: 5/2/2006    Last Visited: 5/2/2006  

  "China needs to continue to tighten monetary conditions," Wanda Tseng, deputy director of the IMF's Asian Department, told reporters at a briefing.

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  AP Wire | 05/02/2006 | IMF: China should keep raising... - [Cached Version]
  Published on: 5/2/2006    Last Visited: 5/2/2006  

  "China needs to continue to tighten monetary conditions," Wanda Tseng, deputy director of the IMF's Asian Department, told reporters at a briefing.
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  Tseng described the rate increase as an "appropriate move."
  
  "There's a lot of liquidity in the banking system and liquidity can fuel a rise in lending," she said."In the past, the banks have been restrained from lending because they were going through restructuring after being recapitalized by the government, but I think those forces may be waning going forward."
  
  She said in this environment, China raising rates further would be "the more prudent thing to do."
  
  Tseng also reiterated that greater flexibility in the Chinese currency, the yuan, is warranted.

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  Agence France Presse - [Cached Version]
  Last Visited: 5/4/2006  

  Wanda Tseng, deputy director of the IMF"s Asian Department told Agence France-Presse that the agency had based its latest economic forecasts for Asia on oil prices of around 61.25 usd a barrel.

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  Asian Corporate Conference - [Cached Version]
  Published on: 6/18/2003    Last Visited: 2/19/2004  

  Wanda Tseng, Deputy Director, Asia and Pacific Department, International Monetary Fund

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  Asian Corporate Conference - [Cached Version]
  Published on: 8/4/2003    Last Visited: 3/20/2004  

  Wanda Tseng, Deputy Director, Asia and Pacific Department, International Monetary Fund (IMF)

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