UNDP head warns on inflation for world’s poor

Emerging markets like Turkey and Brazil will face grave problems in controlling inflation and money supply because of the expansionary economic policies of industrialised countries, Kemal Dervis the head of the UNDP said on Wednesday.

“This may cause us a lot of headaches in the next two or three years,” said Kemal Dervis, United Nations Development Programme (UNDP) administrator and the former economy minister of Turkey, was quoted as saying by the Financial Times. “We are seeing excessively expansionary economic policies, just as we did when the dot.com bubble burst.” Dervis added.

Hurriyet