IMF chief warns of cyberattack and non-bank financial risks

IMF Managing Director Kristalina Georgieva has issued a warning to regulatory authorities regarding increasing risks from non-bank financial institutions, cyberattacks, and fraud. Speaking at the annual IMF and World Bank meetings in Bangkok, Georgieva noted that while there is widespread optimism, there are significant concerns regarding economic resilience as fiscal and energy safety buffers are being depleted.

Central banks are urged to prioritize price stability. The IMF also signaled its intention to provide support to nations facing financial distress, specifically mentioning a requested loan program for Iraq and ongoing intensive discussions regarding a lending scheme for Lebanon.

Additionally, the International Monetary and Financial Committee (IMFC), led by Saudi Arabian Finance Minister Mohammed Al-Jadaan, warned that geopolitical tensions and trade escalations could disrupt critical trade routes and exacerbate energy and food security issues.