The International Monetary Fund's Managing Director, Christine Lagarde, has said that she would not rule out another financial crisis in her lifetime, indicating that comments made recently by Federal Reserve Chair Janet Yellen may have been premature.
"There may, one day, be another crisis," Lagarde told
She, however, noted the unpredictability of financial crises and said that finance ministers and policymakers should act with caution to prepare for such eventualities.
"Our duty, and certainly the message that we give to the finance ministers, to the policymakers, is 'be prepared'. Make sure that your financial sector is under good supervision, that it's well regulated, that the institutions are rock-solid, and anticipate at home with enough buffers so that you can resist the potential crisis."
Source: Bloomberg
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