Coronavirus fallout can morph into a global financial crisis, the World Bank's chief economist says

[Mary Wilson]

Oct. 16, 2020, 04:27 PM
Ben Winck

• 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.

https://markets.businessinsider.com...al-crisis-debt-world-bank-2020-10-1029688877#