Fragility of the US banking system also affected the Pakistani banking industry, leading to further non-performing loans and poor credit underwriting. The latest Global Financial Stability Report (GFSR) released by the International Monetary Fund (IMF) has warned about the risks in the global economy, particularly the fragility of the US banking system. According to a report carried by Gwadar Pro on Tuesday, this fragility has had numerous spillover effects on socio-economic and financial stability, leading to a decrease in global GDP growth.
