A man walks in front of unfinished residential buildings at the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China September 15, 2021. REUTERS/Carlos Garcia Rawlins
WASHINGTON, Sept 21 - The International Monetary Fund on Tuesday said it is closely following developments surrounding China Evergrande GroupIMF chief economist Gita Gopinath told Reuters the real estate sector was a big part of China's economy, and China Evergrande's potential default could have implications for China's economic activity and financial stability.
"We are following the developments in China very closely," Gopinath said, underscoring the need for regulatory reforms to address the heavily leveraged property sector. "We still believe that China has the tools and the policy space to prevent this turning into a systemic crisis."Sign up for our newsletter
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China also had the tools to avoid Corona becoming a pandemic crisis.
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