IMF says US must solve debt crisis

Source BBC News@ tienganhvui.com

3 October 2013 Last updated at 10:00 ET

Christine Lagarde warns failure to raise the US's borrowing limit threatens the global economy

IMF managing director Christine Lagarde says failure to raise the debt ceiling is a far worse threat to global economy than the current government shutdown.

She said it was "mission critical" that the US agrees a new debt ceiling.

A deadlock over the budget between President Obama and Congress has shut down many government functions.

But a further problem looms. The US is reaching the limit of its agreed borrowing and if it cannot agree to increase that it will run out of money.

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