Talk of scaling back the Federal Reserve’s asset purchases has caused money to pour back into the U.S., leading to a “cry” from emerging markets, Angel Gurria, the Secretary General of the Organisation for Economic Co-operation and Development (OECD), told CNBC on Wednesday.
The organization warned on Tuesday that the global economic recovery is at risk of being derailed if the “unconventional” monetary policies, which have injected cheap loans into the financial system, are not maintained.
Though major developed economies are picking up, the OECD warned that a slowdown in many emerging countries was likely to weigh on broader global growth.
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