IMF’s Georgieva warns of increased risks to financial stability

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.