IMF warns US must not fail to raise debt ceiling

June 24th, 2015 10:17 am

First Posted: 10/10/2013

(AP) The International Monetary Fund chief says the global economy is in a slow and unbalanced recovery.

Christine Lagarde heads the IMF. Lagarde warned Thursday that U.S. failure to raise the debt ceiling because of impasse over the government shutdown would seriously damage the American as well as the global economy.

Lagarde also says Europe needs to clean up its banks and forge ahead with a banking union.

Associated Press