Carstens warns world is not fully prepared for fresh crisis

Agustín Carstens
Photo: Bank of Mexico

Financial resilience has improved over the past decade but the world may not be ready to withstand a new crisis, Agustín Carstens said on December 7.

The Bank for International Settlements’ general manager said parts of the market were yet to be tested in a “live fire” situation and patterns of liquidity provision have changed since the 2008 crisis. At the same time, the world economy remains somewhat fragile – “the fundamentals of many economies are not what they should be”, said Carstens.

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