Navigation Links
IMF considers Bird Flu to be a Dark Cloud

Although the International Monetary Fund on Tuesday gave an optimistic report about the world’s financial system some of the dark clouds on the horizon// included worries about the impact of a potential bird-flu pandemic.

A global avian flu outbreak in humans could cause high absenteeism in the financial industry, interfering with payments, clearing, settlements, trading and communications, the IMF warned in its periodic evaluation of the international finance systems, the Global Financial Stability Report.

In addition, the IMF noted that rising interest rates and tighter credit for the corporate and private sectors might have "somewhat" increased medium-term risks to financial stability in the last six months.

Elsewhere on the financial scene, the good news seemed to counterbalance concerns, and any cyclical uncertainties for financial markets in 2006 could be defined as "not bad, but not as good as the stellar year 2005," the IMF said.

Concerns over bird flu, which has killed 109 people over the last few years but not made the feared leap to a human epidemic, prompted the IMF to urge large financial institutions to plan "for work from home, heavy demand for cash by the public and transport of key personnel whose functions cannot be done from home."

"The outbreak of avian flu could threaten global financial markets," the IMF warned. It could also lead to a "significant but temporary reduction" in net capital flows to emerging economies, the IMF said.

The IMF urged countries that do not yet have bird-flu plans for their financial systems to establish emergency committees that include central bank officials.

The report was based in part on informal discussions with commercial and investment banks, securities firms, asset management companies and other elements of the world financial system.

In other conclusions from the report, the IMF said: Financial systems have stre ngthened in emerging markets, attracting a 41 percent increase in direct investments last year over 2003. That increase applied to emerging Europe, Central Asia, Asia and Latin America. In 2004 alone, $180 billion flowed to emerging markets.

"The centre of gravity of growth in financial services continues to shift toward the large and rapidly growing economies of India and China," the IMF said.

The organisation warned that there were risks in the rapid growth of private credit in "a number of Southeast Asian countries" and in the dominance of state-owned banks in India and China.

In the Middle East, Central Asia and Africa, high commodity prices were driving developments, and the IMF warned that a sharp reversal in oil prices "could have adverse effects on the financial systems in some of these countries."

Further hikes in oil prices could "create headwinds in financial markets" by pushing up interest rates, slowing growth and putting downward pressure on equity markets, the IMF warned.


'"/>




Related medicine news :

1. FDA considers nicotine lollipops illegal
2. Cloud of smoke over Zyban
3. Smokers Cloud Has A Silver Lining?
Post Your Comments:
*Name:
*Comment:
*Email:


(Date:5/6/2016)... ... May 06, 2016 , ... In honor of ... and corporate training, and the National Military Family Association, a nonprofit that works ... the second full-tuition scholarship recipient of 2016. , “Being awarded this scholarship ...
(Date:5/5/2016)... ... , ... TransWipe Volume 3 is a set of 30 professional transition animations ... between two video clips to instantly add a unique transition to any Final Cut ... and orientation options. TransWipe Volume 3 is a Final Cut Pro X exclusive plugin. ...
(Date:5/5/2016)... ... May 05, 2016 , ... The U.S. Food ... requiring e-cigarette manufacturers to submit their products through an arduous federal approval process. ... products that entered the market since February 15, 2007. That would essentially ban ...
(Date:5/5/2016)... SAN FRANCISCO (PRWEB) , ... May 05, 2016 ... ... in the Unites States to promise successful results with IVF and with egg ... Designed to deliver the most patient-centric and highest quality fertility care, Spring Fertility ...
(Date:5/5/2016)... Bremerton, WA (PRWEB) , ... May 05, 2016 , ... ... program serving the families of Bremerton, Port Orchard and communities west of Seattle. The ... Lowery, a 12 year local girl who died suddenly due to complications from the ...
Breaking Medicine News(10 mins):
(Date:5/3/2016)... 4, 2016 Global Insulin ... profiling 09 key companies and supported with 272 ... in-depth study on the current state of the ... the industry including definitions, classifications, applications and industry ... provided for the international market including development history, ...
(Date:5/3/2016)... from Sino-German High-Tech Fund to further expand product development, strengthen its disease modeling capabilities and increase market presence. ... ... ... ... Sino-German High-Tech ...
(Date:5/3/2016)... 2016   BIOTRONIK , a leader in ... and Drug Administration (FDA) approval of Iperia ProMRI ... failure patients with access to diagnostic magnetic resonance ... monitoring with daily automatic transmission and closed loop ... response to physiological demands. ...
Breaking Medicine Technology: