The global financial system is resilient enough to withstand the impact of the coronavirus crisis but policymakers must act quickly to deliver a return to economic growth and avoid widespread financial distress, Kristalina Georgieva, managing director of the IMF, has told the Financial Times.
“We are in a resilient place but we cannot take financial stability for granted,” she told Martin Wolf, chief economics commentator, during an FT online global banking summit on Wednesday.
Policymakers must take urgent, co-ordinated steps to deliver investment in digital technology, infrastructure and the environment, she added.
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