Sunday March 26, 2023 | 10:14 p.m.
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, called on Sunday to “remain vigilant” in the face of “uncertainty” in the financial sector, which remains “high”.
The bankruptcy of the Californian bank Silicon Valley Bank (SVB) on March 10, generated a wave of concern in the banking sector in the United States and Europe, which included among its milestones the hasty sale of the Swiss entity Credit Suisse to its compatriot UBS a week ago, or the losses on the stock market of Deutsche Bank.
“It is clear that the risks to financial stability have increased,” Kristalina Georgieva told a forum on China’s development, an event organized in Beijing by the Chinese government, according to AFP.
And it is that the purchase of Credit Suisse by UBS, piloted by the Swiss authorities, like the recent measures of the central banks to improve access to liquidity, prevented panic but failed to restore calm to the financial markets.
“Political leaders have taken decisive measures in response to the risks that weigh on financial stability,” the IMF managing director assessed in her speech.
“These measures have somewhat eased the tensions in the markets, but uncertainty remains high, which underscores the need to remain vigilant,” he argued.
