“The resilience of the global financial system has been severely tested,” the fund said. “It remains to be seen whether the measures taken so far have been sufficient to fully restore confidence in markets and institutions.”
The International Monetary Fund warned it was too soon to sound the all-clear from the turmoil that’s shaken the world financial system and said the banking breakdowns will likely be a drag on global economic growth.
While forceful actions by policymakers to a series of bank collapses have reduced investor anxiety, the financial markets remain fragile and stressed, the IMF said in its semi-annual Global Financial Stability Report released Tuesday.
