Fintech companies have made considerable progress in promoting financial inclusion through new business models and products. Incomplete or inadequate access to financial services is a problem faced by a large part of the population around the world.
The global economic recovery and the boom on capital markets increased the assets of public investment institutions by USD2.5 trillion last year.
For the first time, the Bank for International Settlements in its annual report has devoted a special chapter to cryptocurrencies. The BIS indicates that cryptocurrency technology cannot become a substitute for the existing solutions in the scope of issuing money.
One of the key issues in the economic debate across the world, and in particular in the developed countries, is the inadequate funding of retirement pensions. However, the fact that this problem is much more serious in the case of women has been overlooked.
The Bank for International Settlements (BIS) points out that even if the global economy successfully overcomes the existing threats in the short term, it could still find itself in trouble.
The European Commission proposes that a portion of the central banks' profits from the Eurozone should be transferred to the European Union’s budget as a form of national contribution.
Despite the good short-term prospects, the world economy will experience a slowdown, which may be accompanied by trade wars – these conclusions from the World Economic Outlook report set the tone for the IMF and World Bank spring meetings.
IMF economists point out that digital products and services are difficult to capture in economic statistics, which leads to an underestimation of GDP growth and an overestimation of the level of inflation in many countries.
The IMF warned in the Global Financial Stability Report and Fiscal Monitor against threats challenging financial stability worldwide. The reason is that short-term risk has increased noticeably over the past six months.
The Joint Committee of European Supervisory Authorities (ESAs) analyzed the impact of large sets of data on consumers and financial institutions and concluded, that despite the potential risks arising from the use of Big Data, the benefits outweigh the potential costs.