I am referring of course to the global financial crisis. Although the crisis is not yet over, it has already confronted the authorities, particularly the supervisory authorities, with important questions. I would like to exploit this platform to make some remarks about the financial supervision authorities.
The International Monetary Fund’s (IMF) January 2020 World Economic Outlook (W EO) Update projects the global economy to post a modest 2.9 percent growth in 2019, before picking up by another modest 3.3 percent in 2020. These numbers both represent a downward revision relative to the October 2019 WEO projections.