qWith financial markets worldwide facing growing turmoil, internationally coherent and decisive policy measures will be required to restore confidence in the global financial system. Failure to do so could usher in a period in which the ongoing deleveraging process becomes increasingly disorderly and costly for the real economy. In any case, the process of restoring an orderly system will be challenging, as a significant deleveraging is both necessary and inevitable. It is against this challenging and still evolving backdrop that the Global Financial Stability Report (GFSR) frames the recent events to suggest potential policy measures that could be helpful in the current circumstances.q --Executive Summary of IMF's Global Financial Stability Report, April 2009 The semiannual Global Financial Stability Report (GFSR) assesses key risks facing the global financial system with a view to identifying those that represent systemic vulnerabilities. In normal times, the... at keeping mature market financial institutions engaged, through close cooperation between home and host authorities. ... Cross-border bank funding is now being disrupted as the banking crisis in western Europe intensifies.8 Growth in credit ... in banking systems that relied heavily on financing through international debt markets, such as Kazakhstan and Russia, ... Emerging Europe: Real Credit Growth the Private Sector and Output (In percent, year-on-year) to Industrial productionanbsp;...
|Title||:||Global Financial Stability Report|
|Author||:||International Monetary Fund|
|Publisher||:||International Monetary Fund - 2009|