Breakfast with José Viñals- Vulnerabilities, Legacies, and Policy Challenges in Global Financial Stability

On the morning of October 28th, the Atlantic Council’s Global Business and Economics program held a closed-door breakfast roundtable with José Viñals, Financial Counsellor and Director of the Monetary and Capital Markets department at the International Monetary Fund (IMF). The roundtable- moderated by Andrea Montanino, Director of the Global Business and Economics Program – brought together representatives from private companies, the educational sector, diplomatic delegation staff, and the US Department of Treasury. Mr. Viñals covered a wide range of subjects, discussing the main themes of the October 2015 edition of the Global Financial Stability Report (GFSR), which was launched earlier this month at the IMF’s Annual Meetings in Lima, Peru.

In particular, Mr. Viñals emphasized how seven years after the start of the global financial crisis, financial stability is not yet assured. In this context, policy makers are confronted with a triad of challenges they need to tackle: vulnerabilities in emerging markets, existing legacies from the crisis in advanced economies, and fragilities in global financial markets. These challenges call for an urgent policy upgrade to reach a successful normalization of monetary and financial conditions and to anchor financial stability in the medium term.

If you are interested in learning more on the GFSR policy recommendations to entrench financial stability, we recommend reading Mr. Vinals’ blog entry on Global Financial Stability: Vulnerabilities, Legacies, and Policy Challenges.
If you want to read about the topic in more depth, please find the IMF’s recently published Global Financial Stability Report here: