The post BIS Warns Indebted Nations Of Sudden Loss Of Market Confidence appeared first on Coinpedia Fintech News
The Bank of International Settlements warned heavily indebted nations on Sunday of a risk of sudden loss of market confidence, validating the long-standing concern in the crypto market. The BIS in an annual report published Sunday stated that ‘confidence could quickly crumble if economic momentum weakens and an urgent need for public spending arises on both structural and cyclical fronts’. The BIS cautioned advanced economies from running fiscal deficits larger than 1% of the gross domestic product (GDP) this year, down from 1.6% in 2023.