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IMF still concerned by banking sector wobbles – chief economist

IMF still concerned by banking sector wobbles - chief economist
© Reuters. FILE PHOTO: A participant stands near a logo of IMF at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File Photo

PARIS (Reuters) – The International Monetary Fund remains concerned about recent turbulence in the banking sector despite actions by the U.S. and Swiss authorities to deal with troubled banks on their watch, its chief economist Pierre-Olivier Gourinchas said on Monday.

Speaking to journalists in Paris, he added that “the story is not over” and that EU banks were not immune to problems as long as the bloc did not go further to complete long-discussed mechanisms to deal with failed banks.

Source: Investing.com

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