BEIJING (Reuters) - Developing nations must be ready for a financial market selloff if the Cypriot banking sector collapses, World Bank Managing Director Sri Mulyani Indrawati said on Sunday, urging a swift resolution to the crisis in Cyprus.
In an interview on the sidelines of a forum in Beijing, Indrawati said she is watching very closely the outcome of a plan to levy a one-off tax on Cypriot deposits as part of a deal to obtain a 10 billion euro bailout from the EU.
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