Lagarde cited the challenges of deglobalization, demographics and decarbonization and compared the funding needs to the investments in US railroads in the 18th century, which outstripped banks’ lending capacity. Drawing another comparison to US history, Lagarde said the creation of the SEC in the 1930s “played a pivotal role in suppressing state efforts to fragment securities markets.”
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By Saad Sayeed, Ariba Shahid and Steve Holland ISLAMABAD/WASHINGTON, April 25 (Reuters) - Iranian Foreign Minister Abbas Araqchi laid out...
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