News Snapshot:
But she said she did not think the world economy was headed toward a replay of the 2008 global financial crisis, despite problems in the banking sector that have surfaced in the United States and Switzerland. “This is not 2008,” even though the high-profile collapse of Silicon Valley Bank last month has conjured up that concern, Georgieva said. The 2008 crisis happened because too many financial institutions carried assets on their books that turned out to be highly overvalued. “We don’t have that now. The financial system, both banking and non-banking, is much cleaner,” Georgieva said. During her wide-ranging remarks,...
