IMF Director warns of the repercussions if US fails to raise debt ceiling, prolonged Arab Spring

Posted by on Oct 28, 2013 | Leave a Comment

IMF: the transformation of the Arab Spring is the hardest and longest worldwide

Published on Friday, 04 October 1 / Okrudolf 2013 13:43

International Monetary Fund warned on Thursday, the repercussions of the Arab Spring on the global economy, expressing fears of continuing it for a longer period.

The Director of the International Monetary Fund (IMF) Crecyt Lagarde, in a statement quoted by Reuters news agency, said that “changes in the countries of the Arab Spring may be the hardest and the longest in the world.

This came in a speech Lagarde in Washington before the annual meetings of the IMF and the World Bank to be held next week.

Lagarde stressed that “if the United States does not raise the debt ceiling, it could hurt the global economy as a whole and not only the U.S. economy.”

They believed that “the solution to this issue as soon as possible is a critical task.”

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