The world stands at a critical juncture as geopolitical tensions rise, global economic growth slows, and financial risks mount. In response to these challenges, international leaders and experts are calling for the reconstruction of the international financial system to ensure stability and foster future economic growth.
In a recent discussion hosted by CGTN’s Guan Xin, György Matolcsy, Governor of Hungary’s Central Bank, and Boris Vujčić, Governor of the Croatian National Bank, delved into the pressing need for a diversified financial system. They emphasized that establishing new rules and strengthening global cooperation is essential to address the current economic hurdles.
“The existing financial framework is not adequately equipped to handle the complexities of today’s global economy,” said Matolcsy. “We need a system that reflects the diverse needs of all nations and supports sustainable growth.”
Vujčić echoed this sentiment, highlighting the importance of consensus among governments and institutions. “Global cooperation is not just beneficial; it’s imperative. By working together, we can establish a stable economic order that mitigates risks and promotes prosperity for all,” he remarked.
The conversation underscored the challenges faced by economies worldwide, including inflationary pressures, supply chain disruptions, and the lingering impacts of the pandemic. The governors stressed that without decisive action and collaboration, these issues could exacerbate financial instability.
The dialogue between these central bank leaders provides valuable insights for policymakers, investors, and global citizens alike. As the call for a new international economic order gains momentum, the emphasis remains on creating a system that is resilient, inclusive, and capable of supporting long-term growth.
Reference(s):
cgtn.com
