The consequences of the situation in banks in the USA and Switzerland were the complexity of the fight against inflation in the world. This was expressed by the Managing Director of the IMF, Kristalina Georgieva. her words delivery TASS.
“Fighting inflation has become more difficult after the recent turmoil in the US and Swiss banking sectors, which reminds us how difficult it is to quickly move from a long period of low interest rates and abundant liquidity to much higher rates. a liquidity shortage,” Georgieva said at a press conference in Washington.
Georgieva expressed her hope that world central banks will stick to the course of fighting inflation.
On March 11, Silicon Valley Bank, a major bank in the USA, went bankrupt. The bank ranked 16th in terms of assets in the country, making it the largest credit institution to go bankrupt in the last 15 years. According to Bloomberg, 200 more US credit institutions could repeat the fate of Silicon Valley Bank. At the same time, Credit Suisse, one of Switzerland’s largest banks, experienced financial difficulties. The latter was sold to another large bank in the country – UBS.