As the macroeconomic and financial conditions tighten a dangerous "sovereign-bank nexus" has emerged in many developing economies. Government and SOE debt take up a large share of the assets of financial sector institutions in many developing countries, heightening the risks of financial crises.
At the 2023 Spring Meetings Event of the World Bank and the IMF, panelists discussed these challenges and actions to minimize the risks of a financial crisis.
Moderator
Pablo Saavedra
Vice President for the Equitable Growth, Finance, and Institutions (EFI) Global Practice
Panelists
Hyun Song Shin
Economic Advisor & Head of Reserach, BIS
Socorro Heysen
Superintendent of Banks, Insurances & Private Pension Funds Authority, Peru
Nicolas Véron
Senior Fellow, Bruegel & PIIE
Ceyla Pazarbasioglu
Director, Strategy, Policy & Review, IMF