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World Economy Faces ‘Pivotal Moment’, Central Bank Body BIS Says
- On Sunday, the final report was released by the international financial organization responsible for coordinating central banks, underscoring a critical juncture for the world economy amid escalating risks.
- The report links this moment to US trade tensions, rising debt levels, and fractious geopolitics that expose deep fault lines in the economic order.
- The BIS warned of a 10% dollar decline since the year's start, rapid stablecoin growth, and a lasting impact of post-COVID inflation on public price perceptions.
- Outgoing BIS head Agustín Carstens said, "This trend cannot continue," referring to rising debt, while deputy Andrea Maechler stated, "That world has ended."
- The report implies rising uncertainty threatens economic growth and tests public trust in institutions, urging policies to promote fiscal repair and productivity gains.
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WTVBWorld economy faces ‘pivotal moment’, central bank body BIS says
Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements said in its latest assessment of the state of the world economy.
For more than seven years, Agustín Carstens has been at the head of the Bank for International Settlements (BIS). He warns of the risks of shadow banks on his leave – and does not save with praise for Switzerland.
For Gaston Gelos (Montevideo, 56) the balance is a priority. Between growth and inflation, between the independence of central banks and political pressures, between fiscal consolidation and public investment. Deputy Director since 2023 of the Monetary and Economic Department of the Bank for International Settlements (BIS), the entity that brings together banking supervisors from all over the world, talks by video call about the role of monetary…
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