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IMF Says Global Financial System at Risk of Destabilizing Without Reform


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IMF Says Global Financial System at Risk of Destabilizing Without Reform

Jubilee USA Network

WASHINGTON - The International Monetary Fund (IMF) released its bi-annual Financial Stability Report, noting a stable short-term economy but deeper risks looming. The report states a new era of "chronic weak growth [and] prolonged low interest rates" leads to continuing instability particularly for banks in developed nations. The 2008 global financial crisis began largely due to the collapse of western financial institutions but it pushed millions into poverty in the developing world.

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