The International Monetary Fund has released its latest Global Financial Stability Report, and guess what it doesn’t show much of?
Pick a category, and you find signs of stress. Emerging markets? Check. Their banks face “liquidity and solvency pressures.” Credit risk? Check. Lending standards are still tightening even after a global wave of looser money.
Government fixes help, but aren’t doing enough. From the report: “Policy actions have prevented an even deeper crisis, but the limited market improvement to date has been insufficient to prevent the onset of the adverse feedback loop with the real economy.”
A few key themes:
- The global credit crunch will be “deep and long-lasting”.
IMF puts losses from financial crisis at $4.1 trillion Telegraph.co.uk
The Australian - Radio Netherlands
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