IMF Chief Warns of Increased Risks to Global Financial Stability

The head of the International Monetary Fund (IMF) has warned of increased risks to global financial stability, but also pointed to "green shoots" emerging in China's economy. The IMF expects China's economy to expand by 5.2% this year, which would mark a significant improvement on the 3% logged last year and contribute roughly one third of global growth. However, the IMF chief urged Chinese policymakers to shift towards more consumption-driven growth and implement policy reforms to level the playing field between the private sector and state-owned enterprises.