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After a very volatile weekend, which ended with a tumble in Deutsche Bank stock, many questions are still unanswered regarding financial stability in the world. This worries the International Monetary Fund (IMF) in particular.
For Kristalina Georgieva, Managing Director of the IMF, the risks to financial stability “ increased ” lately. To be sure, advanced economies have taken decisive steps that have to some extent eased market tensions. But ” uncertainty is high ” and it needs ” to remain vigilant “, hammered Sunday March 26 the Bulgarian economist during the Forum on the development of China in Beijing.
The IMF, which forecasts slower global growth – below 3% this year – is closely monitoring the situation and its possible effects on the economic outlook and global financial stability. Particular attention should be paid to the most vulnerable countries, in particular those with very high levels of indebtedness.
This is the case, for example, of Ghana or Argentina. At the end of the week, the Fitch agency lowered Argentina’s debt in dollars, taking it to a notch just above default.
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