| The International Monetary Fund has warned the US to raise the limit on its debt soon or risk causing a "severe shock" to the fragile global economy.
The US Treasury has already hit its legal debt ceiling of $14.3tn but lawmakers have failed to agree on increasing the limit. "The federal debt ceiling should be raised expeditiously to avoid a severe shock to the economy and world financial markets," the IMF said in its annual report on US economic policy..............................................Full Article: Source |