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IMF says financial stability still at risk

The International Monetary Fund says the uneven pace of recovery between sluggish advanced economies and buoyant developing ones will lead to financial instability for the next two years.

business Updated: Jan 25, 2011 14:27 IST

The International Monetary Fund says the uneven pace of recovery between sluggish advanced economies and buoyant developing ones will lead to financial instability for the next two years.

Citing a new report on global financial stability, IMF Financial Counselor Jose Vinals said on Tuesday that "financial stability is still at risk" because of failures to impose regulatory reforms and policies to tackle fiscal and banking sector vulnerabilities that caused the worst crisis since the Great Depression.

The report anticipates that the economies of advanced countries will expand by 2.5% in the next two years while emerging and developing countries are expected to continue a strong rebound and grow by 6.5 percent in the same period.