World Bank chief economist warns of major financial crisis emerging from coronavirus pandemic

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The coronavirus pandemic is likely to transform into a major financial crisis, World Bank chief economist Carmen Reinhart has warned in an interview with Bloomberg Television.

Key Comments:

“This didn’t start out as a financial crisis, but it is transforming into a major economic crisis, with very serious financial consequences. “

“There is a long way to go.”

This is a war. During wars, governments finance their war spending as best they can and right now there are urgent needs. “

“The scenario in which we find ourselves is not sustainable.”

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Credits: Forex Street

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