The head of the International Monetary Fund (IMF) has warned that the global economy is still in a highly fragile state following the financial crisis, and could face further turmoil in the months ahead.
Dominique Strauss-Kahn, managing director of the IMF, told business leaders at the Confederation of British Industry’s annual conference in London that while financial conditions have improved, they are still far from normal.
”Signs show confidence returning, but banking systems in many advanced economies remain undercapitalised, weighed,” he said.
“On the household side, weak financial positions and high unemployment will damp down on consumption,” he added.
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