Lagarde adds IMF warning to Washington

Lagarde adds IMF warning to Washington
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The IMF is of course worried about the US shutdown like everyone else, but purely from an economic point of view.

Speaking at a press conference at the opening of a two-day meeting of G20 Finance Ministers in Washington, Christine Lagarde warned that a debt default by the United States would do serious damage.

“There would be very negative consequences for the US economy, and there would be very negative consequences outside the US economy. We are likely to see, if that matter is not resolved, volatility, uncertainty, and consequences for the rest of the world,” said IMF boss Christine Lagarde.

Lagarde added it was vital for the world that the US put its financial house in order, and carefully manage the anticipated ending of quantatitive easing, closing the cash tap progressively to avoid liquidity problems.

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