
FabioNatalucci,deputydirectoroftheMonetaryandCapitalMarketsDepartmentattheIMF,attendsapressconferenceinWashington,D.C.,theUnitedStates,onApril11,2023.China"seconomicgrowthisimportantforbothChineseandglobalfinancialstabilityatatimewhentheglobalfinancialsystemisshowingconsiderablestrains,anInternationalMonetaryFund(IMF)officialhassaid.(Xinhua/LiuJie)
(资料图片)
WASHINGTON,April16(Xinhua)--China"seconomicgrowthisimportantforbothChineseandglobalfinancialstabilityatatimewhentheglobalfinancialsystemisshowingconsiderablestrains,anInternationalMonetaryFund(IMF)officialhassaid.
"Ithinkgrowthisacrucialrecipeforfinancialstability.Therecannotbefinancialstabilitywithoutgrowth,it"sasuperimportantpointtomake,"FabioNatalucci,deputydirectoroftheMonetaryandCapitalMarketsDepartmentattheIMF,toldXinhuaonWednesday.
"SogrowthinChina,it"simportantforChinesefinancialstability.Asapartoftheglobaleconomy,it"simportanttorestoregrowthattheaggregatelevel,aswellastocontributetofinancialstability,"saidNatalucci,whoisresponsiblefortheGlobalFinancialStabilityReport(GFSR).
Chinaisanimportantglobalplayer,duetoitscontributiontoglobalgrowthandparticipationintheglobalfinancialmarket,saidNatalucci."SoChinaclearlyhastoplayanimportantroleintryingtoaddressthesefinancialstabilityconcerns,"hesaid.
"Whatwe"reseeingessentiallyisafinancialsystem,aglobalfinancialsystemthatisbeingtestedbythisnewenvironmentofhigherratesandhigherinflation.That"swhywethinkthatfinancialstabilityrisksareincreasednow,"hesaid.
"Thebigquestioniswhetherratesandinflationaregoingtostayhigher,whatparticularinterestratelevel,orwhetherwe"regoingtogobacktowhatwewereusedtopre-pandemic?Thisisgoingtoaffectrisk-takingandalsothevulnerabilityinthefinancialsystem,"saidNatalucci.
ThereisaneedtoanalyzewhathappenedinthebankingsectorsofcountriesliketheUnitedStatesandSwitzerlandfromaninternalriskmanagementperspective,fromasupervisoryperspectiveandfromaregulatoryperspective,hesaid.
"It"simportanttokeepinmindthatthestocktakealsoneedstobedoneatthegloballevel,becausehowsomeofthesefinancialinstitutionsbehavehasanimpactandrepercussionacrosstheglobe,"Nataluccisaid.
MultilateraleffortsshouldbestrengthenedtoreducegeopoliticaltensionsandeconomicandfinancialfragmentationonwhichthelatestGFSRhadachapter,saidNatalucci.
"Thereisacostpolicymakersneedtobeawareofandthosecostscomeintermsofcross-bordercapitalflows,intermsofthehealthoftheglobalfinancialsystem,aswellasintheabilityofinvestorstodiversifyrisk.Sothatcostoffinancialfragmentation,it"ssomethingthatneedstobeconsideredverycarefully,"hesaid.
Hesuggestedinternationalregulatoryandstandard-settingbodies,suchastheFinancialStabilityBoardandtheBaselCommitteeonBankingSupervision,shouldcontinuetopromoteglobalfinancialregulatorystandardstominimizefinancialfragmentation.
ClimatechangepolicyisanotherareawhereNataluccithought"globalcoordinationandcooperation,multilateralismapproachareimportant."
"Climatechangeisaglobalthreat.Climatepolicytakenbyonecountry,onejurisdictionimpactsothercountriesaswell.Increasedclimatechangeaffecteveryone.SoIthinktheircoordinationintermsofresponseiscrucial."■
FabioNatalucci,deputydirectoroftheMonetaryandCapitalMarketsDepartmentattheIMF,attendsapressconferenceinWashington,D.C.,theUnitedStates,onApril11,2023.China"seconomicgrowthisimportantforbothChineseandglobalfinancialstabilityatatimewhentheglobalfinancialsystemisshowingconsiderablestrains,anInternationalMonetaryFund(IMF)officialhassaid.(Xinhua/LiuJie)