The International Monetary Fund (IMF) has called on the United States to urgently address its growing fiscal challenges, critiquing the tax proposals of both presidential candidates just before their first electoral debate.
The International Monetary Fund (IMF) has called on the United States to urgently address its growing fiscal challenges, critiquing the tax proposals of both presidential candidates just before their first electoral debate.

International Monetary Fund warns US to address debts

The International Monetary Fund (IMF) has called on the United States to urgently address its growing fiscal challenges, critiquing the tax proposals of both presidential candidates just before their first electoral debate.

In its annual Article IV assessment of the US economy, the IMF projected that the debt-to-GDP ratio could reach 140 percent by 2032, significantly higher than the current 120.7 percent. This increase is attributed to anticipated fiscal deficits, potentially exceeding post-World War II levels.

“Such high deficits and debt pose increasing risks to both the US and global economy, potentially leading to higher fiscal financing costs and challenges in managing maturing obligations,” the IMF stated in its Article IV report. “These chronic fiscal deficits represent a substantial and ongoing policy misalignment that requires urgent attention.”

Read More: FACT FOCUS: Here’s a look at some of the false claims made during Joe Biden and Trump’s first debate – Home Of Ghana News (ghanaweb.mobi)

The IMF’s warnings follow a Congressional Budget Office forecast predicting a deficit of $1.9 trillion this year, or about 7 percent of GDP, up from a February estimate of $1.5 trillion.

In its annual Article IV assessment of the US economy, the IMF projected that the debt-to-GDP ratio could reach 140 percent by 2032, significantly higher than the current 120.7 percent. This increase is attributed to anticipated fiscal deficits, potentially exceeding post-World War II levels.

“Such high deficits and debt pose increasing risks to both the US and global economy, potentially leading to higher fiscal financing costs and challenges in managing maturing obligations,” the IMF stated in its Article IV report. “These chronic fiscal deficits represent a substantial and ongoing policy misalignment that requires urgent attention.”

The IMF’s warnings follow a Congressional Budget Office forecast predicting a deficit of $1.9 trillion this year, or about 7 percent of GDP, up from a February estimate of $1.5 trillion.

 

Source: Graphionline.com

 

The International Monetary Fund (IMF) has called on the United States to urgently address its growing fiscal challenges, critiquing the tax proposals of both presidential candidates just before their first electoral debate.
The International Monetary Fund (IMF) has called on the United States to urgently address its growing fiscal challenges, critiquing the tax proposals of both presidential candidates just before their first electoral debate.

 

About admin

Check Also

Western Region NDC Hails President Mahama’s Appointment of Hon. Akwasi Opong-Fosu as GIPC Board Chairman

The Western Regional chapter of the National Democratic Congress (NDC) has extended its profound gratitude …

Unlock Your Beauty Potential with JESSY’S WIGS AND COLLECTIONS: Where Elegance Meets Expertise

For the ultimate in wigs, men’s wear, and sunglasses of elegance and expertise, look no …