IMF: global economy stable but still highly vulnerable
The global economy remains very much in a holding pattern -stable, and getting better, but still highly vulnerable, IMF Managing Director Dominique Strauss-Kahn said in London.
Speaking at the annual conference of the Confederation of British Industry, Strauss-Kahn said the major advanced country areas in particular remain fragile, still dependent on policy support. Financial conditions have improved, but are far from normal.
"Signs show confidence returning, but banking systems in many advanced economies remain undercapitalized, weighed down by leaden legacy assets and, increasingly, non-performing loans," he said.
Speaking at the annual conference of the Confederation of British Industry, Strauss-Kahn said the major advanced country areas in particular remain fragile, still dependent on policy support. Financial conditions have improved, but are far from normal.
"Signs show confidence returning, but banking systems in many advanced economies remain undercapitalized, weighed down by leaden legacy assets and, increasingly, non-performing loans," he said.
