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The SpaceX mission
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Insurer failure riskier than bank: IMF spokesman
WASHINGTON |
WASHINGTON (Reuters) - The world financial system was more vulnerable to the collapse of a major insurer like American International Group (AIG) rather than a big investment bank, the International Monetary Fund said on Thursday.
IMF spokesman David Hawley told a regular news briefing that authorities should seek market-friendly solutions in the current market turmoil that would encourage a turnaround in investor sentiment.
In Russia, where bourses ceased trading as the market went into a tailspin, there were sufficient buffers to deal with the crisis and the overall economy remained strong, he added.
(Reporting by Lesley Wroughton, Editing by Chizu Nomiyama)
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