Evergrande debt problems not just a local issue – Swiss National Bank

September 23, 2021

ZURICH (Reuters) – The Swiss National Bank is closely monitoring the situation at China’s Evergrande Group, SNB Chairman Thomas Jordan said on Thursday, amid concerns that its debt problems could pose risks to China’s financial system.

“It is wrong to be alarmist, but it is also wrong to dismiss it as a local small problem,” Jordan told journalists on a call when asked about the potential knock-on effects for Switzerland.

“We have seen time and again that seemingly small developments suddenly unsettle the financial markets and cause major corrections,” Jordan added. “We will follow this closely as all other central banks will do.”

(Reporting by John Revill and Silke Koltrowitz; Editing by Michael Shields)

Source Link Evergrande debt problems not just a local issue – Swiss National Bank