On Air Now

Listen

Listen Live Now » 94.1 FM Jackson, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
75° Feels Like: 75°
Wind: SW 7 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 60°

Tomorrow

Mostly Sunny 82°

Wed Night

Clear 64°

Alerts

U.S. just days away from 'very dangerous moment': World Bank

World Bank President Jim Yong Kim addresses the plenary session at the start of the annual IMF-World Bank fall meetings in Washington, Octob
World Bank President Jim Yong Kim addresses the plenary session at the start of the annual IMF-World Bank fall meetings in Washington, Octob

WASHINGTON (Reuters) - The president of the World Bank on Saturday warned the United States was just "days away" from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default.

"We're now five days away from a very dangerous moment. I urge U.S. policymakers to quickly come to a resolution before they reach the debt ceiling deadline...Inaction could result in interest rates rising, confidence falling and growth slowing," World Bank President Jim Yong Kim said in a briefing following a meeting of the bank's Development Committee.

"If this comes to pass, it could be a disastrous event for the developing world, and that will in turn greatly hurt developed economies as well," he said.

(Reporting by Anna Yukhananov and Lidia Kelly; Editing by Andrea Ricci)

Comments