The World Bank has warned that the coronavirus outbreak is turning into a major economic crisis and could likely see the emergence of a financial crisis from the pandemic.
This disclosure was made by the World Bank Chief Economist, Carmen Reinhart, during an interview with Bloomberg Television.
Reinhart during the interview said, This did not start as a financial crisis but it is morphing into a major economic crisis, with very serious financial consequences. Theres a long road ahead.
Reinhart, who assumed her new role in June, is best known for her work with then-Harvard colleague Kenneth Rogoff on the last financial crisis in their 2009 book This Time Is Different: Eight Centuries of Financial Folly. It made the pair the go-to resour…
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