Economics
Top World Bank Economist Says Financial Crisis Could Emerge From Pandemic
- Current quantitative easing scenario is not sustainable
- Risk of looming debt crisis in world’s poorest countries
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World Bank Chief Economist Carmen Reinhart said the coronavirus pandemic is turning into a major economic crisis and warned of the possibility of a financial crisis emerging.
“This did not start as a financial crisis but it is morphing into a major economic crisis, with very serious financial consequences,” Reinhart said in an interview with Bloomberg Television. “There’s a long road ahead.”