Invest in health care or face credit rating cuts, says WHO's expert panel

"A pandemic like this one poses huge threats not just to financial stability but to the whole economic and financial system", said Mario Monti

States that invest too little in public health could have their credit ratings cut, according to the chair of a World Health Organization panel that wants a new global body set up to spell out the risks to financial stability from healthcare failures.

The comments by Mario Monti come before a global health summit on Friday in Rome at which leaders of the Group of 20 largest economies will discuss the coronavirus emergency and how to prevent major health crises in future.

"A pandemic like this one poses huge threats not just to financial stability but to the whole economic