IMF: if the United States falling fiscal cliff ‧ global shock - hpc


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Lagarde, president of the International Monetary Fund (IMF) said that the world to receive a shock if United States fall into the financial cliff.
Lagarde said, U.S. economic growth decreased by 2% because of the financial cliff, Mexico and Canada economic growth is likely to be reduced to 1%, Europe and Japan are smaller. She also said, "America's political leaders should be clear, provided by the United States is an international reserve currency and safe haven, uncertainties lead to suspicion of U.S. economic leadership.
United States should be at the same time to increase taxes and reduce spending to resolve the crisis triggered by the financial cliff. Lagarde pointed out that if the United States is not enough just to extend the tax cuts without spending cuts.
She said: “incomplete solutions will lead to uncertainty, impact investors, corporations, and even the family's decision-making because they do not know what will happen tomorrow.”
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