World risks ‘global liquidity crunch’, former BIS officials warn

Global losses

The world economy is at risk of a “global liquidity crunch” if “urgent action” is not taken by policy-makers, economists Philip Turner and André Icard warn.

The former senior Bank for International Settlements officials highlight factors that on their own may not be especially troubling, but combined, could lead to a major financial crisis.

They point to “abundant” global liquidity, mismatches in currencies and maturities, and the absence of a global lender of last resort as key

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