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IMF Warns World Financial System Faces Risk from Emerging Markets

IMF Warns World Financial System Faces Risk from Emerging Markets

Daniel Dubrovsky, Strategist

Talking Points:

  • IMF releases Global Financial Stability Report
  • Warns developing risks from emerging market, China
  • Global economic output could be cut by 3%

Follow commentary from top officials as it is released with the real-time news feed

In its most recent Global Financial Stability Report, the International Monetary Fund warned that emerging markets could be a source of instability. This is mainly due to weaker commodity prices, slower economic growth, share market volatility, and high levels of company debt. The end result could be a global economic output cut of 3 percent.

The report calculated that companies and banks in the developing countries had over-borrowed an estimated 3.3 trillion in US Dollars. If the Federal Reserve raises its interest rate, emerging markets will become vulnerable to higher borrowing costs.

The IMF singled out China as the main country of concern as it modernizes its economy. According to the IMF, “The Chinese authorities face an unprecedented policy challenge in carrying out their objectives to make the transition to a new growth model and a more market-based financial system.” In response to this statement, PBOC’s deputy governor Yi Gang said not to worry as China will “pretty much” still have middle-to-high growth in the near future.

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