IMF chief warns risks to financial stability have increased; the need for vigilance" in banking sector

IMF managing director Kristalina Georgieva reiterated her view that 2023 would be another challenging year. - Reuters

BEIJING, March 26, 2023 (AFP): International Monetary Fund chief Kristalina Georgieva warned on Sunday that risks to financial stability had increased and stressed "the need for vigilance" following the recent turmoil in the banking sector.

Speaking at a forum in Beijing, the IMF managing director said she expected 2023 "to be another challenging year", with global growth slowing to below 3.0 percent due the war in Ukraine, monetary tightening and "scarring" from the pandemic.