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The New DU. Reply #89: Act while times are good: IMF chief (dollar warning)
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UpInArms
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Thu Apr-14-05 02:13 PM
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| 89. Act while times are good: IMF chief (dollar warning) |
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http://www.marketwatch.com/news/story.asp?guid=%7BBD54D5B8%2DBFDB%2D48EE%2DA165%2D35C76DBA6242%7D&siteid=mktwexcerpt: IMF officials are frustrated that more action hasn't been taken to address the United State's record level of foreign indebtedness.
The IMF is worried that U.S. deficits could lead to a severe drop in the value of the dollar and perhaps higher interest rates.
Last October, the IMF has set out a reform program that includes the U.S. cutting its fiscal budget deficit and increasing household savings, Europe and Japan freeing up their economies to increase domestic demand, and China moving towards a more flexible currency.
But the IMF says there has been only limited movement on these reforms.
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