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IMF Chief Georgieva warns of increased financial stability risks following recent turmoil in banking sector

Kristalina Georgieva
Kristalina Georgieva
  • 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

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