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Coronavirus fallout can morph into a global financial crisis, the World Bank's chief economist says
Major economies may be well on their way to recovery, but outsized government borrowing runs the risk of fueling a financial crisis, the World Bank's chief economist, Carmen Reinhart, said Thursday on Bloomberg TV.
The path of governments' fundraising and bond-buying is not sustainable and could spark debt crises should they continue, the economist said.
"This did not start as a financial crisis, but it is morphing into a major economic crisis with very serious financial consequences," she said.
If not handled correctly, the coronavirus pandemic could fuel a global financial disaster and exacerbate dire economic damage, the World Bank's chief economist, Carmen Reinhart, said Thursday on Bloomberg TV.
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