IMF Director of Fiscal Policy Vitor Gaspar answers a reporter's question at the headquarters of the International Monetary Fund in WashingtonMARRAKECH, Morocco - The U.S. and China will both need to make major changes to put their medium-term debt and deficit on a sustainable path, International Monetary Fund Fiscal Affairs Director Vitor Gaspar said on Wednesday.
The IMF's Fiscal Monitor, released on Oct. 2, shows that the U.S.'s and China's total non-financial public and private debt-to-GDP rates have converged at about 270% of GDP, with the U.S. making up 30% of the global total and China 20%.Gaspar said the challenge for the United States was persistently high and growing budget deficits. The Congressional Budget Office projects U.S.
China has managed innovation in electric vehicles and alternative energy products, and that can aid its transition. "China has ample policy space, it has multiple options," he said.Ohio State wrestlers call for ex-coach Jim Jordan not to become House speaker The White House fired back at the head of the Republican National Committee for saying the attacks on Israel presented a 'great opportunity' for GOP candidatesA prominent Black voting rights activist says there are 'saboteurs' within the Democratic Party who don't want Kamala Harris to succeed, arguing they are worried about her 'outshining' Biden
The first full deployment of the US Navy's newest supercarrier and its strike group just took an unexpected turn with the crisis in Israel
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: CTVNews - 🏆 1. / 99 Read more »