The global respite turns the focus toward local risks

Just as current medicine cannot predict exactly when someone will suffer a stroke or cancer, economic science cannot predict precisely when the next recession, financial crisis or sovereign default will occur.

Key points

• Key points:
• However, just like in medicine, we must remain aware of the vulnerabilities in each country and region that we know could generate serious problems.
• These vulnerabilities generally come from the accumulation of imbalances that can amplify and extend an unexpected financial or economic shock, increasing risk for certain sectors of the economy (public, finance, external).

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