Rodrigo Rato, presidente en funciones del FMI, estima que la crisis financiera en curso será dolorosa pero, a medio plazo, tras la incertidumbre actual, pudiera tener cosas positivas y saludables para la economía…

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Financial Times, 9 septiembre 2007

IMF chief sees hope in market turmoil

John Thornhill, Cernobbio

Rodrigo de Rato, managing director of the International Monetary Fund, has said the dramatic repricing of risk in the financial markets should be healthy for the medium-term stability of the global economy even if it results in short-term pain. “This reckoning is probably a welcome one but it does not mean that it will be a painless one,” he told the Financial Times in an interview at the Ambrosetti forum in Cernobbio, Italy.

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He said the credit squeeze was a “serious crisis” that was still unfolding with a high degree of uncertainty. He said its effects would be limited by the strength of the global economy and the high credibility of monetary authorities around the world.

Mr de Rato, outgoing head of the IMF, said regulators needed to learn lessons from the incorrect pricing of risk in the US housing market that led to the subprime mortgage problems. He suggested that regulators should re-examine the legal perimeters of financial institutions to assess the real risks from off-balance sheet structures.