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  • THE HEAD OF THE IMF SPOKE ABOUT THE RISK OF RETURNING TO GREAT DEPRESSION

    In the 2020s, the financial sector is to be faced with the task of preventing the traditional view of crises and confronting new crises, said Kristalina Georgieva, director of the International Monetary Fund (IMF), and also talked about the risk of returning to the situation which was during the Great Depression.

    “Maintaining stability will remain an important and challenging task in the coming decade”, she said in an IMF statement.

    The head of the IMF noted that on the eve of the financial crisis, inequality is increasing.

    Our recent study shows that inequality tends to increase on the eve of the financial crisis, which indicates a close relationship between inequality and financial stability” she added.

    The IMF director also explained that the link between inequality and financial stability could lead to a situation that developed during the Great Depression.

    The Great Depression is the global economic crisis that began in October 1929 with the stock market crash in the United States, and continued until 1939.

    rns.online, January 18