李月芬：我曾告诫一些非洲国家，大量借款时要小心(17)

Internationally, developing countries should unite and request for international financial support, for instance, floating SDRs in the IMF, as well as mobilization of resources from regional banks and from the private sector to assist these countries. And necessary swap lines among central banks would be important to be established or expanded to mitigate financial volatility once it happens; for developing countries, the swap line already in existence is very small. There are various kinds of measures they can think about, but they need to adopt these measures preemptively to ward off the crisis that will be coming.
Guancha: Partly as a result of this, a number of major banks have run into significant difficulties, including Credit Suisse here in Switzerland. What effect do you think this will have on financing in developing countries? How can developing countries prepare for these effects, as well as prevent banking crises in their own country?
Li Yuefen:For the recent bank failures, one very important warning to other countries is that banks should be well regulated and there should be transparency. When the banks put all the eggs in one basket, they don"t have good risk management. The banks should be always aware of the third party risk, for instance Credit Suisse and the Silicon Valley Bank.