Risk management is vital to the economic well-being of developing markets, says governor of Algeria’s central bank

Mohammed Laksaci, governor of the Central Bank of Algeria, Banque d’Algerie, spoke this week about how global risks will affect the financial stability of the Islamic Republic of Afghanistan, Algeria, Ghana, Islamic Republic of Iran, Morocco, Pakistan and Tunisia, whom he was representing.

Laksaci welcomed the recent IMF views of continued global expansion and favourable near-term growth prospects throughout developing countries, and that expansion is becoming more broadly based. However, he pointed out that medium-term global economic prospects remain subject to major downside risks, due in part to the disorderly unwinding of global imbalances. Laksaci noted that “it has become commonplace in our meetings to point to the same risks and to underline the required policy responses