The head of the International Monetary Fund said Sunday world markets were looking for a lasting solution to the U.S. fiscal cliff rather than a quick fix. Christine Lagarde said on CNN's "State of the Union" world financial markets would no doubt plunge if Washington cannot meet the deadline for an agreement on the cliff next month, but could also rebound quickly if a comprehensive deal was on the horizon. "It would react in the stock market really taking a hit," Lagarde said regarding the looming deadline. "But I would also say that it will depend on what's on the horizon." "If what's on the horizon is a bigger, better, comprehensive deal that addresses both the short-term issue of the fiscal cliff, the debt ceiling, and the long-term deficit and debt levels, then that (reaction) would be different," she said. Lagarde said the size and relatively closed nature of the U.S. economy plus its ability to borrow on world debt markets at low rates separated the United States from the more-volatile European economies. At the same time, Lagarde said, the seemingly slow progress of the fiscal-cliff negotiations continued to act as a drag on the overall economy. "There is still that degree of uncertainty that fuels doubt, that prevents investors, entrepreneurs, households from making decisions because they don't know what tomorrow will be," she said.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor