Sat, Oct 12, 2013 - Page 7 News List

Global finance chiefs slam US

REPERCUSSIONS:A similar US budget fight that went to the wire in 2011 saw developing countries pay in terms of higher borrowing costs for months afterwards


“The IMF does not take a stand and does not make a recommendation as to how politically this matter can be resolved,” Lagarde said.

However, she stressed “that the fiscal house of the US be put in order.”

Some were more sanguine about the problem.

“I don’t expect a US default,” Bank of Japan Governor Haruhiko Kuroda said in New York.

“I am convinced that an exit to the crisis is going to be found. A US payment default would be so serious that it is improbable, even impossible,” French Finance Minister Pierre Moscovici said.

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