CRUCIAL financial reforms may never be completed as political momentum fades, International Monetary Fund (IMF) boss Christine Lagarde warned yesterday.
“There has been significant progress on regulatory reforms aimed at making markets and institutions more transparent, less complex, and less leveraged,” she told a conference in Japan.
“But the job is not done yet. Many financial systems remain vulnerable, too complex, and overly reliant on a small number of large (and growing) institutions. Further efforts are needed to refine and implement these reforms.”
“Worryingly, the collective energy to do just that is fading,” she warned.