As the world navigates the exit from the global pandemic, an accelerating trend of digitalization and the existential threat from climate change pose both opportunities and challenges ahead. These 3Cs - COVID-19, crypto and climate - offer opportunities for sustaining the ongoing recovery, facilitating more efficient, accessible and inclusive financial service provision, and greening the economy. But they also require a global concerted effort to counter risks and vulnerabilities, which if left unchecked, could put growth at risk in the medium term or test the resilience of the global financial system.
The Global Financial Stability Report provides an assessment of the global financial system and markets, and addresses emerging market financing in a global context. It focuses on current market conditions, highlighting systemic issues that could pose a risk to financial stability and sustained market access by emerging market borrowers. The report draws out the financial ramifications of economic imbalances highlighted by the IMF's World Economic Outlook. It contains, as special features, analytical chapters or essays on structural or systemic issues relevant to international financial stability.