IMF urges US Congress to find agreement to avoid shutdown

Thursday 26 September 2013 18.17
IMF wants US Congress to agree a new fiscal deal - quickly
IMF wants US Congress to agree a new fiscal deal - quickly

The International Monetary Fund today urged US lawmakers to quickly find a fiscal agreement to avoid a federal government shutdown and raise its $16.7 trillion borrowing limit.

“This is important for the continuation of the recovery in the US and beyond that in the global economy,” IMF spokesman Gerry Rice said in a press briefing in Washington today.

President Barack Obama and congressional Republicans are deadlocked over the federal budget in a confrontation that could prompt a government shutdown within days.

That showdown could influence the next set of negotiations over raising the borrowing limit, which the Treasury Department has said will be reached by October 17.