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China must urgently address financial risks, IMF warns – Aljazeera.com
China’s debt levels have climbed during the coronavirus pandemic, especially in the private sector.
China urgently needs to take steps to contain financial stability risks as the economys recovery takes hold, according to the International Monetary Fund.
Virus relief measures that are potentially distortionary should be gradually phased out, the Washington-based lender said in its annual Article IV report released Friday. Repayment holidays for borrowers and relaxed rules on how to treat non-performing loans run the risk of increasing moral hazard and undoing recent progress in strengthening bank…
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