REGIONAL OFFICE FOR ASIA AND THE PACIFIC (OAP)

Global Financial Stability Report

The IMF Regional Office for Asia and the Pacific will host a seminar featuring one of the contributors to the latest IMF Global Financial Stability Report.

Financial markets are grappling with the ongoing war in the Middle East amid renewed inflationary pressures and rising risks of a sharper tightening in financial conditions. 

Several amplification channels could transmit market stress into broader financial instability. Elevated public debt and increased reliance on short-term issuance heighten rollover risks in core sovereign bond markets. In emerging markets, carry trade unwinds and capital outflows may amplify currency pressures. High leverage among nonbank financial intermediaries could exacerbate volatility through forced deleveraging and liquidity strains. In equity markets, stretched valuations and concentration – particularly in artificial intelligence related firms – raise downside risks. Although liquidity mismatches in private credit remain limited, rising borrower stress and growing retail exposure could test semiliquid structures.

This seminar will provide an opportunity to explore relevant pressing issues and their policy implications.

Date & Time: Tuesday, May 26, 2026, 10:00 AM – 11:30 AM Japan Time (GMT+9)

Venue: Kasumigaseki Knowledge Square (3F, Kasumigaseki Common Gate West, 3-2-1 Kasumigaseki, Chiyoda-ku, Tokyo, 100-0013)

Language: English

How to join: Registration is required. Please register here.

Agenda:

Speakers' Biographies:

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• Sally Chen is currently IMF’s Resident Representative for Hong Kong SAR. In this capacity, Sally heads the Hong Kong office’s research and surveillance efforts on financial market developments across Asia Pacific and coordinates the Funds’ outreach efforts in the Greater China region. Before her current role, Sally was an advisor in the Research Department for Bank for International Settlements (BIS) and started her career at the Federal Reserve Bank of New York. Sally is a graduate of Wellesley College and Columbia University where she studied economics. Her research focuses on macro-financial linkages, including global liquidity, financial cycles and the impact of debt deleveraging.