Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    IMF says COVID-19 pandemic poses serious threat to financial stability

    Xinhua | Updated: 2020-04-15 14:57
    Share
    Share - WeChat
    The International Monetary Fund (IMF) Headquarters is seen in Washington DC, the United States, April 13, 2020. [Photo/Xinhua]

    WASHINGTON - The International Monetary Fund (IMF) on Tuesday warned that the COVID-19 pandemic poses a serious threat to the financial stability, as global financial conditions remain much tighter compared to the beginning of the year.

    "Following the COVID-19 outbreak, financial conditions tightened at unprecedented speed, exposing some 'cracks' in global financial markets," the IMF said in its newly-released Global Financial Stability Report, noting market volatility spiked, borrowing costs surged and signs of strain emerged in major funding markets.

    "These developments have raised the risk that the inability of borrowers to service their debts would put pressure on banks and cause credit markets to freeze up," the report said, adding the pandemic crisis presents "a very serious threat" to the stability of the global financial system.

    "A prolonged period of dislocation in financial markets could trigger distress among financial institutions, which, in turn, could lead to a credit crunch for nonfinancial borrowers, further exacerbating the economic downturn," the report warned.

    While major central banks have significantly eased monetary policy and provided additional liquidity to the financial system, which helped stabilize investor sentiment in recent weeks, global financial conditions remain much tighter compared to the beginning of the year, according to the report.

    "Central banks will remain crucial to safeguarding the stability of global financial markets and maintaining the flow of credit to the economy," Tobias Adrian, the financial counsellor and director of the IMF's Monetary and Capital Markets Department, said Tuesday at a press briefing.

    "But this crisis is not simply about liquidity. It is primarily about solvency -- at a time when large segments of the global economy have come to a complete stop. As a result, fiscal policy has a vital role to play," he said.

    "Together, monetary, fiscal, and financial policies should aim to cushion the impact of the COVID-19 shock and to ensure a steady, sustainable recovery once the pandemic is under control," said the IMF official.

    The report came after the IMF said earlier Tuesday in its World Economic Outlook report that the global economy is on track to contract "sharply" by 3 percent in 2020 as a result of the COVID-19 pandemic, the "worse recession" since the Great Depression in the 1930s.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    久久精品aⅴ无码中文字字幕重口| 国产精品无码专区在线观看| 无码国模国产在线无码精品国产自在久国产 | 日韩人妻无码一区二区三区久久99 | 一本大道久久东京热无码AV| 亚洲AV永久青草无码精品| 日韩欧美一区二区不卡中文| 欧日韩国产无码专区| 无码人妻精品一区二区三区东京热| 免费精品久久久久久中文字幕| 中文字幕亚洲码在线| 久久精品无码av| 88久久精品无码一区二区毛片 | 亚洲国产AV无码专区亚洲AV| 欧美日韩亚洲中文字幕二区| 超清无码无卡中文字幕| 亚洲AV无码成H人在线观看| 91无码人妻精品一区二区三区L | 日韩精品久久无码中文字幕| 精品人妻无码区在线视频| 日韩在线中文字幕制服丝袜| 日韩中文字幕一区| 日韩国产中文字幕| 中文字幕视频在线| 最近中文字幕免费2019| 中文精品久久久久国产网址| 99高清中文字幕在线| 亚洲欧美日韩国产中文| 最近中文字幕2019视频1| 日本一区二区三区中文字幕 | 中文字幕无码播放免费| 久久久中文字幕日本| 亚洲日韩中文字幕日韩在线| 日本中文字幕在线视频一区| 欧美日韩亚洲中文字幕二区| 日韩成人无码中文字幕| 东京热人妻无码一区二区av | 丰满熟妇人妻Av无码区| 刺激无码在线观看精品视频| 久久久久亚洲AV无码专区桃色| 久久无码人妻精品一区二区三区 |