Raising US debt limit crucial for global economy : IMF

Friday, 04 October 2013 - 11:16




International Monetary Fund chief Christine Lagarde warned on Thursday that a US failure to raise the debt ceiling, which could lead to default, could wreak havoc on the global economy.


Lagarde said in a speech in Washington, on the third day of a US government shutdown due to a budget impasse in a bitterly divided Congress the ongoing political uncertainty over the budget and the debt ceiling does not help.


Prospects for a swift resolution of the budget impasse remained dim as Democrats and Republicans showed no hint of compromise.

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