World Bank2014-04-162014-04-162014-04-06978-1-4648-0273-7https://hdl.handle.net/10986/17868South Asia experienced a strong cyclical rebound in 2013Q3 growth but has since slowed again. The strong regional growth performance between July and September 2013 can be largely attributed to a temporary pick up in export growth, investment activity, as well as stronger agricultural output. Since the large impact of global portfolio rebalancing in May 2103, emerging markets have separated into a diverse group ranging from continuously fragile to resilient vis-a-vis external pressures. India has managed to turn around the wheel and minimize exposure to further tapering in 2014. Weak growth and exchange rate depreciation have characterized India for some time. Capital inflows into South Asia have regained some momentum and proved more resilient in January 2014 as opposed to May 2013. This report presents recent economic developments; outlook and policy; focus: from external to domestic risk; South Asia country briefs for Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka; and South Asia at a glance.en-USCC BY 3.0 IGOACCOUNTINGADVANCED COUNTRIESADVANCED ECONOMIESARREARSASSET QUALITYBALANCE OF PAYMENTSBALANCE SHEETBALANCE SHEETSBANK LENDINGBANK LOANSBANK POLICYBANKING SECTORBANKING SECTORSBANKING SYSTEMBASIS POINTSBENEFICIARYBONDBOND ISSUEBOND ISSUESBOND SPREADSBONDSBORROWERBROAD MONEYBUDGET DEFICITSBUSINESS CYCLEBUSINESS CYCLESCAPITAL ACCOUNTCAPITAL ACCOUNTSCAPITAL ADEQUACYCAPITAL FLOWSCAPITAL FORMATIONCAPITAL INFLOWSCAPITAL MARKETSCAPITAL OUTFLOWSCAPITAL REQUIREMENTCAPITAL STRUCTURESCAPITALIZATIONCASH FLOWCASH FLOWSCENTRAL BANKSCENTRAL GOVERNMENT DEBTCOMMERCIAL BANKSCORPORATE BONDSCORPORATE DEBTCORPORATE DEFAULTCREDIBILITYCREDIT BUREAUCREDIT GROWTHCREDIT QUALITYCURRENCY DEPRECIATIONCURRENT ACCOUNT BALANCESCURRENT ACCOUNT DEFICITCURRENT ACCOUNT DEFICITSCURRENT ACCOUNT SURPLUSDEBT BURDENDEBT COMPOSITIONDEBT LEVELDEBT REPAYMENTDEBT REPAYMENT SCHEDULESDEBT RESTRUCTURINGDEBT SERVICEDEFAULT RISKDEFICIT FINANCINGDEMAND FOR CREDITDEPOSITDEPOSITSDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING ECONOMIESDOMESTIC CORPORATE DEBTDOMESTIC DEBTDOMESTIC INTEREST RATESECONOMIC DEVELOPMENTECONOMIC DEVELOPMENTSEMERGING ECONOMIESEMERGING MARKETEMERGING MARKET ECONOMIESEMERGING MARKETSEQUITY CAPITALEQUITY ISSUEEQUITY MARKETSEUROBONDEXCESS LIQUIDITYEXCHANGE RATEEXCHANGE RATE MOVEMENTSEXCHANGE RATESEXPENDITUREEXPENDITURESEXPORT GROWTHEXPORT PERFORMANCEEXPOSUREEXTERNAL BORROWINGEXTERNAL COMMERCIAL BORROWINGSEXTERNAL DEBTEXTERNAL FINANCINGFEDERAL RESERVEFEDERAL RESERVE BANKFINANCIAL CRISISFINANCIAL HEALTHFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MARKETFINANCIAL STABILITYFINANCIAL SYSTEMFINANCIAL SYSTEMSFISCAL DEFICITFISCAL DEFICITSFIXED CAPITALFIXED INVESTMENTFOREIGN BANKSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE RESERVESFOREIGN INVESTMENTFOREIGN PORTFOLIO INVESTMENTGLOBAL PORTFOLIOGOVERNMENT DEBTGOVERNMENT FINANCESGOVERNMENT SECURITIESINCOME TAXESINFLATIONINFLATION INDEXINFLATION RATEINFLATIONARY EXPECTATIONSINFLATIONARY PRESSURESINFRASTRUCTURE INVESTMENTINFRASTRUCTURE INVESTMENTSINSTITUTIONAL INVESTMENTINSURANCEINTEREST PAYMENTSINTEREST RATEINTEREST RATE CHANGESINTEREST RATE SPREADSINTEREST RATESINTERNATIONAL BANKINTERNATIONAL CAPITALINTERNATIONAL CAPITAL FLOWSINTERNATIONAL INVESTORSINTERNATIONAL PORTFOLIOINVENTORIESINVESTMENT ACTIVITYINVESTMENT CLIMATEINVESTMENT DECISIONSINVESTMENT PROJECTSISSUANCELABOR MARKETLIQUIDITYLOANLOCAL CURRENCYLONG-TERM INTERESTLONG-TERM INTEREST RATEMACROECONOMIC STABILITYMACROECONOMIC VARIABLESMARKET DEPTHMARKET EFFICIENCYMARKET PRICEMARKET PRICESMATURITYMINIMUM CAPITAL ADEQUACY RATIOMINIMUM CAPITAL REQUIREMENTMINORITY SHAREHOLDERSMONETARY AUTHORITIESMONETARY POLICYNATIONAL SAVINGSOUTPUTPOLITICAL RISKPOLITICAL UNCERTAINTIESPORTFOLIO FLOWSPORTFOLIO INVESTMENTPORTFOLIO INVESTMENTSPORTFOLIOSPRIVATE BANKSPRIVATE FINANCIAL SECTORPRIVATE INVESTMENTPRIVATE SECTOR BANKSPRIVATE SECTOR CREDITPUBLIC BANKSPUBLIC DEBTPUBLIC INVESTMENTPUBLIC SECTOR BANKSREAL EXCHANGE RATERECURRENT EXPENDITUREREGULATORY FRAMEWORKREMITTANCEREMITTANCESREPAYMENTSREPOREPO RATERESERVESRETURNRETURN ON ASSETSRISK FACTORRISK FACTORSSAVINGS SCHEMESSECURITIES MARKETSSHARE OF ASSETSSOLVENCYSOVEREIGN BONDSOVEREIGN DEBTSTATE BANKSTATE BANKSSTOCK MARKETSTOCK MARKET INDICESSTRUCTURAL PROBLEMSSWAPST-BILLT-BILLSTAXTAX COLLECTIONTOTAL DEBTTRADE BALANCETRADE CREDITTRADE DEFICITTRADINGTREASURYTREASURY NOTEWARRANTSWITHDRAWAL10.1596/978-1-4648-0273-7