The popularity of crypto assets is growing. The market value surpassed $2.5 trillion in early May before falling 40% and then recovering to $2.1 trillion by September 2021, according to the Global Financial Stability Report published last week by the International Monetary Fund.
The annual meetings of the World Bank and the International Monetary Fund take place every year in October. All the finest economic minds discuss, debate the future of the world economy. The two global institutions release data that reviews the state of the world economy and risks to future growth. This column has always advocated taking a big-picture view of things. Your search for information should begin with reports from the two institutions released last week. It does not get more significant than the analysis put out by the two institutions. There is an extensive media spotlight on the macro-economic aspects. Global growth is set to slow, and there are significant inflation risks for the world economy. If you start adopting crypto assets and use them instead of currency, you are contributing a potential threat to the financial stability in an economy, according to the IMF report.
This story is from the October 18, 2021 edition of The Morning Standard.
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This story is from the October 18, 2021 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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