'Severe' banking crisis threatens worldwide recession, IMF warns

'Severe' banking crisis threatens worldwide recession, IMF warns:

• The global economy is in a "perilous phase" where the threat of a global recession is rising, the International Monetary Fund (IMF) has warned.
• Rising interest rates could spark a severe banking crisis that triggers recession, the IMF warned in its latest World Economic Outlook.
• Financial stability risks have "increased rapidly" over the last six months, the Washington-based organisation said...