The World Bank's chief economist Carmen Reinhart has warned of a possible financial crisis, saying that the Corona 19 pandemic is turning into an economic crisis, Bloomberg News reported.
Reinhart told Bloomberg TV, "This crisis did not start with a financial crisis, but it is transforming into a big economic crisis with very serious financial consequences."
Reinhart, who taught international economics at Harvard University and has been the chief economist of the World Bank since June, is famous for his book, ``This Time Different,'' which analyzes the 2008 financial crisis with Professor Kenneth Rogoff at Harvard University.
(Photo = Yonhap News)