IMF managing director Kristalina Georgieva has warned of increased risks to financial stability and the need for vigilance following the recent banking sector turmoil in advanced economies.
Speaking at a conference in Beijing, the IMF head said uncertainties in the world economy remained “exceptionally high”, with global economic growth expected to slow below 3 per cent this year because of the Ukraine war, “scarring” from the Covid-19 pandemic and monetary tightening.
“Risks to financial stability have increased at a time of higher debt levels,” Georgieva told the annual China Development Forum, a gathering for global chief executives and senior Chinese policymakers.
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