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Global Economic Woes Loom as US Debt Ceiling Deadline Approaches.

1 min read
Source: Reuters
Global Economic Woes Loom as US Debt Ceiling Deadline Approaches.
Photo: Reuters
TL;DR

World Bank President David Malpass has warned that the risk of a US payments default is adding to problems facing a slowing global economy, with rising interest rates and high debt levels already choking back investments needed to fuel greater output. Malpass said that he believed that the standoff between Democrats and Republicans over raising the $31.4tn US statutory borrowing cap would be resolved. Malpass also expressed concern about a new deal being finalised by Suriname's government and international bondholders to restructure nearly $600m in debt.

Topics:businessglobal-economy#debt-restructuring#g7-meeting#global-economy#global-growth#us-debt-limit#world-bank
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  1. World Bank's Malpass: U.S. debt limit standoff adds to global economic woes  Reuters
  2. What investors should do as US default deadline nears: Bankrate  Markets Insider
  3. The Debt Ceiling Dispute Raises the Risks for 'Risk-Free' U.S. Bonds  The New York Times
  4. Investors should brace for US debt ceiling turbulence  Financial Times
  5. Opinion | How a U.S. default could affect national security  The Washington Post

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