IMF chief Christine Lagarde said Friday the looming "fiscal cliff" in the United States threatens the country's international supremacy and the fragile global recovery. In an interview with BBC World News, Lagarde noted the US fiscal cliff, a combination of severe tax increases and spending cuts due in January, would probably wipe out growth in the world's largest economy. "The real issues are, in a way, the supremacy of the United States and its leadership role in the world," said the managing director of the International Monetary Fund. "To make sure that that leadership endures, the uncertainty has to be removed because uncertainty fuels doubt as to that leadership." With the deadline fast approaching, President Barack Obama and congressional Republicans remain at loggerheads in talks to find a longer-term deficit reduction plan that would avert the cliff. "It's not purely a political issue, it's not ideological, it's broader than that. It really addresses the role of the United States in the world from a geopolitical and economic point of view," said Lagarde, according to extracts of the broadcast interview.
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