IMF Chief Georgieva warns of increased financial stability risks following recent turmoil in banking sector
Sakshi Education
![Kristalina Georgieva](/sites/default/files/images/2023/03/27/kristalinageorgieva-1679912366.jpg)
- International Monetary Fund Chief Kristalina Georgieva warned that risks to financial stability had increased and stressed the need for vigilance following the recent turmoil in the banking sector.
- She expected 2023 to be another challenging year, with global growth slowing to below 3.0 percent due to the conflict in Ukraine, monetary tightening and scarring from the pandemic.
- She said uncertainties are exceptionally high, with the outlook for the global economy likely to remain weak over the medium term.
- At a time of higher debt levels, the rapid transition from a prolonged period of low-interest rates to much higher rates, necessary to fight inflation, inevitably generates stresses and vulnerabilities, as evidenced by recent developments in the banking sector in some advanced economies.
Published date : 27 Mar 2023 03:49PM