The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, hopes that the problem of raising the US national debt ceiling will be resolved by the efforts of the authorities in the near future. She said this in a speech she gave in London. transmits TASS.
“This time, I expect a solution to be found. Let’s see how long the negotiations will last and I hope we don’t have to wait for the last minute.”
In his view, the ongoing debate in Congress regarding the US national debt ceiling has been “historically very tense, but a solution can always be found”, otherwise both the American and world economy will suffer.
As the discussions continue. On May 22, Republican-controlled Speaker of the House of Representatives Kevin McCarthy and US President Joe Biden again discussed raising the national debt ceiling, but failed to reach an agreement. At the end of April, the Republican Party passed a bill that would require a total reduction in government spending of $4.5 trillion over ten years and limit annual growth in government spending to 1% in exchange for raising the national debt ceiling to $32.9 trillion. . Democrats and Biden took the project with hostility.
May 22 Bloomberg WroteHe said that unless US authorities agree on a possible increase in the national debt limit, the US Treasury leadership will run out of cash by June 8 or 9 to meet payments on federal government obligations.
As of May 2, 2023, the US government’s debt is estimated at $31.5 trillion, according to Statista.