It takes place at a crucial time, given the current state of the global recovery and the increased downside risks.
In its communiqué three weeks ago, the IMFC noted that the global outlook had weakened and summarized the situation as follows: “Although recent developments point to some improvements in sentiment, financial market volatility and risk aversion have risen […] Downside risks to the global economic outlook have increased since October, raising the possibility of a more generalized slowdown and a sudden pull-back of capital flows.