Last Updated: April 16, 2008

Financial Stability

Nasdaq stock exchange. The U.S. subprime mortgage crisis has led to big losses in stock markets everywhere (photo: Gero Breloer/dpa/Corbis)

The credit crisis, triggered by the U.S. subprime mortgage meltdown, is spreading to other mortgage and corporate debt markets. The IMF has launched a number of initiatives to develop proposals to deal with the crisis and improve the IMF's ability to spot trouble.

Latest News

Ministers Resolve to Counter Crisis

April 13, 2008
The world's top economic and financial leaders—who gathered in Washington April 12-13 for the IMF-World Bank Spring Meetings—backed a series of measures to support global growth, strengthen the international financial system, and combat high food prices.

Strauss-Kahn: Global Economy Caught Between Slowdown and Inflation

April 9, 2008
At a press conference to open the IMF Spring Meetings, Managing Director Dominique Strauss-Kahn offers an update on the global economic outlook and risks, and on IMF reforms.

IMF Predicts Slower World Growth Amid Serious Market Crisis

April 9, 2008
The IMF's World Economic Outlook sees global growth decelerating in 2008, led by a sharp slowdown in the United States, and amid a housing correction and spreading financial crisis.

IMF Hosts Conference on Challenges for Monetary Policy from Financial Innovation

March 20, 2008
Speech by Deputy Managing Director Takatoshi Kato Deputy Managing Director

The Financial Market Crisis and Risks for Latin America

March 17, 2008
Speech and PowerPoint Presentation by Anoop Singh, Director of the Western Hemisphere Department Deputy Managing Director

IMF Intensifies Work on Subprime Fallout

January 15, 2008
Following the recent subprime mortgage crisis in the United States and the resulting global market turmoil, the IMF has launched a number of initiatives to develop policy proposals to deal with the crisis and improve the IMF's capacity to spot trouble.

IMF Assesses Central Banks' Reaction

January 15, 2008
Based on banks' experience, IMF drawing lessons for better liquidity management.

IMF Developing New Tools to Find Financial Trouble Spots

January 15, 2008
The IMF is developing new applications for stress tests and other quantitative risk-assessment models to help identify financial system vulnerabilities in member countries, in the wake of the U.S. subprime crisis.

Credit Market Turmoil Makes Valuation Key

January 15, 2008
Following the collapse of the U.S. subprime mortgage market in mid-2007, market concerns about the exposure of structured securities to subprime loans dramatically slashed liquidity.

Subprime: Tentacles of a Crisis

December 2007
Randall Dodd believes the mortgage market turbulence is as much about the breakdown of the structure of U.S. financial markets as it is about bad debt.

Policy Overview

Lessons from the Financial Market Crisis

February 13, 2008
By Dominique Strauss-Kahn, IMF Managing Director 

Sovereign Wealth Funds

Board approves new work agenda on SWFs

March 21, 2008
Work to be coordinated with SWFs and OECD.

IMF steps up work on SWFs

March 4, 2008
SWFs may grow to $6-10 trillion in next five years.

Local Bond Markets

IMF Helping Fill Global Securities Data Gap

March 20, 2008
The challenges of compiling securities statistics.

IMF Helps Develop Local Bond Markets

January 2, 2008
In line with G-8 plan.

Public Debt Management

IMF Develops New Risk Measures Tools for Public Debt

March 20, 2008
Method helps determine sustainable public debt strategy.

Related Links

Global Financial Stability Reports

Data and Statistics

Key Issues Pages:

Economic Analysis and Policy Advice

Emerging Markets

Globalization

Factsheets:

How the IMF Promotes Global Economic Stability

Sound Financial Systems

Standards and Codes

Transparency in Monetary and Financial Policies

Vulnerability Indicators

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Spotlight

Financial Markets Remain under Stress

April 8, 2008
Read the latest Global Financial Stability Report (GFSR) or watch a video summary by Jaime Caruana, Director of the Monetary and Capital Markets Department

Action needed to strengthen global financial system

March 12, 2008
IMF First Deputy Managing Director John Lipsky calls for "decisive policy action" to stem crisis in financial markets.

Research and Publications

Call for Papers—Conference on International Macro-Finance

April 24-25, 2008
Washington, DC

Domestic Financial Reforms Attract FDI

March 24, 2008
IMF study highlights importance of financial reform.

Why Did Financial Globalization not Deliver the Goods?

March 2008
Paper by Dani Rodrik (Harvard) and Arvind Subramanian (Peterson Institute).

IMF study points to gaps in Securities Markets Regulation

February 4, 2008
Article on IMF Working Paper

Central Bank Financial Strength, Policy Constraints and Inflation

February 1, 2008
IMF Working Paper finds that central bank financial strength is positively associated with good policy performance.

Tenth Annual International Banking Conference: Globalization and Systemic Risk

September 27-28, 2007
The conference, sponsored by the IMF and the U.S. Federal Reserve Bank of Chicago, addressed, among other things, regulatory efforts needed to address systemic concerns.

New Landscape, New Challenges: Structural Change and Regulation in the U.S. Financial Sector

August 1, 2007
IMF Working Paperexplores ways to fine-tune the oversight arrangements in the U.S. financial sector

Reaping the Benefits of Financial Globalization - Discussion paper

July 27, 2007 

Capital Flows, Financial Integration, and International Reserve Holdings: The Recent Experience of Emerging Markets and Advanced Economies

July 1, 2007
IMF Working Paper examines the interaction between capital flows and international reserve holdings in the context of increasing financial integration.