US debt crisis threatens world economy: IMF
IMF: US Debt Crisis Threatens World Economy. Terming the current debt crisis in America as 'mission-critical', the International Monetary Fund has...
WASHINGTON: Terming the current debt crisis in America as "mission-critical", the International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. "The ongoing political uncertainty over the budget and the debt ceiling does not help. The government shutdown is bad enough, but failure to raise the debt ceiling would be far worse, and could very seriously damage not only the US economy, but the entire global economy," IMF Managing Director Christine Lagarde, said.
"So it is "mission-critical" that this be resolved as soon as possible,' Lagarde said in her address to the George Washington University. The United States, she said, needs to "slow down and hurry up." By that she meant less fiscal adjustment today and more tomorrow, she added.